The deal from the two Toronto-listed companies will see Petroamerica shareholders receive, per share, either 0.40 of a share of Gran Tierra common stock or C$1.33 ($0.92) in cash.

"Petroamerica also today obtained a final order from the Court of Queen's Bench of Alberta to implement the Arrangement," the company said in a statement.

Announced in November, the deal was estimated to be worth about US $84 million.

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