CALGARY - Shares in Halifax-based natural gas producer Corridor Resources Inc. jumped by as much as 50 per cent on Monday after it proposed bringing in a new management team, along with an injection of up to $50 million. The same team also built and sold previous companies called Wild Stream Exploration Inc. and Wild River Resources Inc. If the deal is approved by shareholders, Corridor would be renamed Headwater Exploration Inc., in keeping with the management team’s river name theme. The management team’s previous companies have been focused on producing oil and gas mainly in Saskatchewan and Alberta but Corridor’s current natural gas production and reserves are in New Brunswick, Quebec and the Gulf of St. Lawrence. “The Headwater management team is energized and truly believes that the Corridor platform can lead us into becoming a leading Canadian energy producer,” he said.

Source: thestar January 13, 2020 18:56 UTC