Akita Drilling: Major Expansion Completed

Akita Drilling (AKTAF) completed an all-stock acquisition of Fox Drilling from Paramount Resources (PRMRF). The deal, approved by a shareholder controlling 84% of shares, ensures transaction success. Public float increases by roughly 9 million shares at least. Post-transaction, AKTAF's lower debt ratio enables further opportunistic expansion in a volatile industry environment. As with any small company, a basket strategy is probably better than all in on one strategy for investors.