It appears to me thatPacific Ark seem to be the Canadian company that will be aquired by using the assetts of OGX. The company that owns OGX will become the company taking over Pacific Ark and with such takeover will still own all of OGX. This is trying to be arranged through a third company BC limited so as to keep it at arms length even though all directors and management have not been named but as there is a major secured creditor just put 2 and 2 together.
Thus a reverse takeover.
Whether it is legal or not who is to say.
