BULLETIN V2026-1724
LYCOS ENERGY INC. ("LCX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: May 19, 2026
TSX Venture Tier 1 Company
The TSX Venture Exchange has accepted for filing documentation relating to the Pre-Acquisition Agreement dated March 6, 2026, and the corresponding Share Transfer Agreement dated March 4, 2026 (collectively, the "Agreement"), between Lycos Energy Inc. (the "Company") and Mahikan Oil Corporation, an arm's length party (the "Vendor"). The Company has acquired 100% of the issued and outstanding shares of the Vendor.
Pursuant to the Agreement, the Company acquired the Vendor for total consideration of approximately $49.7 million. This included the assumption of net debt and the issuance of 29,781,301 common shares of the Company (the "Lycos Shares") at a deemed price of $1.20 per Lycos Share, representing 0.60 of a Lycos Share for each common share of the Vendor.
Following the closing of the transaction, Mahikan Oil Corporation will continue to operate as a wholly-owned subsidiary of Lycos Energy Inc.
For further details, please refer to the Company's news releases dated March 6, 2026, March 30, 2026, and April 8, 2026.
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