InPlay Oil Corp. and Prairie Storm Resources Corp. Announce Completion of Strategic Cardium Combination

CALGARY, Alberta, Nov. 30, 2021 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company“) and Prairie Storm Resources Corp. (TSXV: PSEC) (“Prairie Storm“) are pleased to announce that they have closed on today’s date (the “Effective Date“) the previously announced plan of arrangement under section 193 of the Business Corporations Act (Alberta) (the “Acquisition“). Pursuant to the Acquisition, InPlay acquired all of the issued and outstanding common shares of Prairie Storm (the “Prairie Storm Shares“) on the basis of $0.2514 in cash and 0.0524 of a common share of InPlay (“InPlay Shares“) in exchange for each Prairie Storm Share outstanding and Prairie Storm became a wholly-owned subsidiary of InPlay. As a final step of the Acquisition, InPlay, Prairie Storm and Prairie Storm’s wholly-owned subsidiary, Prairie Storm Energy Corp., were subsequently amalgamated under the name “InPlay Oil Corp.” (the “Resulting Issuer“). Read More