The Warsaw-listed explorer is buying Toronto-quoted Winstar Resources in a cash-and-shares deal.
KOV is offering 7.555 of its own shares for each Winstar share or a cash amount of C$2.50 (US$2.44) but has capped its cash spend at C$35 million. The transaction values Winstar at C$122 million.
Once the acquisition is complete, KOV will move to list the enlarged entity on the Toronto Stock Exchange under the new name of Serinus Energy.