Fieldex Exploration Inc. entered a reverse takeover agreement with Idénergie Inc., a Quebec-based private renewable energy company.

The letter of intent also includes a spinout of the company's resource properties in a new public company, according to the June 6 release.

Fieldex will amalgamate or combine with Idénergie and become a renewable energy clean tech company. It will also change its name.

Following the reverse takeover and spinout, Fieldex's shareholders will receive shares in the new clean tech company and the new resources company.

The transaction is subject to the signing of a definitive agreement and shareholder approvals.