3MV Energy Corp. has re-acquired the 75% interest of two newly (or recently) drilled wells by acquiring all of the outstanding securities of 1696704 Alberta Ltd. (FarmCo). Pursuant to the farm out agreement between FarmCo and 3MV, FarmCo drilled two wells on 3MV's Fiske property, with FarmCo funding 100% of costs to completion to earn a 75% interest subject to existing royalties. 3MV now has a 100% working interest in the two Fiske wells. Currently production equipment is being installed on the wells, and 3MV will provide the market with production updates in the coming weeks.

The Company acquired all of the 3,600,100 common shares and 3,600,000 warrants of FarmCo by issuing 3,600,100 3MV common shares and 3,600,000 3MV warrants to FarmCo securityholders in exchange for 3,600,100 FarmCo common shares and 3,600,000 FarmCo warrants (the "Acquisition"). Each 3MV warrant is exercisable at $0.50 per share for a period of 18 months from the original date of issuance. Following the acquisition, FarmCo is a wholly-owned subsidiary of 3MV.

Tags: 3MV Energy Corp.