CALGARY, Dec. 20, 2018 /CNW/ - Briko Energy Corp.
("Briko" or the "Corporation") commenced operations
today as a new junior oil and gas exploration and development
company. Briko was formed as a result of a plan of arrangement (the
"Arrangement") involving Ikkuma Resources Corp.
("Ikkuma"), Pieridae Energy Limited ("Pieridae"),
Briko and the shareholders of Ikkuma.
Pursuant to the Arrangement, Pieridae acquired all of Ikkuma's
outstanding shares. The former shareholders of Ikkuma received, for
each Ikkuma Share held: (i) 0.1926 of one common share of Pieridae;
and (ii) 0.1 of one common share of Briko and 0.1 of one common
share purchase warrant of Briko.
Briko is an Alberta Foothills Cardium light oil focussed
company, with undeveloped land, crude oil and natural gas reserves
and a production base with associated infrastructure.
The board of directors of Briko consists of Messrs. Michael Kohut, Mark
Dickinson, Tim de Freitas and
John Van de Pol. Mr. Kohut is
also the President and Chief Executive Officer and William C. Guinan is the Corporate Secretary of
Briko.
SOURCE Ikkuma Resources Corp.