Compact Power merges with capital pool company
By Canadian Press
NewsSept. 9, 2011 - Snow Eagle Resources has announced a deal to merge with Compact Power Equipment Centers in a $20 million transaction aimed at providing the capital pool company with a full listing on the TSX Venture Exchange, according to CP reports.
Snow Eagle share transactions were halted on Sept. 8 following the news.
Compact Power rents and maintains specialized small construction
equipment through 278 Home Depot locations in the U.S. and Canada.
Under the deal, Snow Eagle will issue common shares to Compact Power worth 15 cents each, for a total deal price of $20 million.
Snow Eagle is a capital pool — or non-operating — company and is
pursuing the merger deal to get a listing as an operating company on the
junior exchange.
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