- A deal that would have provided a financial lifeline to cash-strapped Lucas Energy (LEI -10.1%) is terminated after proposed merger partner Victory Energy (OTCPK:VYEY -24.1%) backs out of the agreement.
- Victory also says it will not extend further credit to Lucas.
- The companies say they are working to finalize the terms of a mutual settlement and release agreement.
Lucas Energy-Victory Energy merger deal is dead
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