LOTO Energy II Takes Western Metals Corporation Private
September 8, 2022
LOTO Energy II, LLC completed a tender offer and merger to acquire Western Metals Corporation (OTC: WTLC), purchasing shares in cash and effecting a merger with its wholly owned subsidiary WMC Merger Sub, Inc. As a result, Western Metals became a wholly owned subsidiary of LOTO Energy II and remaining public shares were converted into cash for selling shareholders. The target is a small California corporation that owns and operates two natural gas wells in Solano County, California.
- Buyers
- LOTO Energy II, LLC, WMC Merger Sub, Inc.
- Targets
- Western Metals Corporation
- Industry
- Oil & Gas
- Location
- California, United States
- Transaction Type
- Buyout
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