BRS Resources Ltd. says that AleAnna Resources has entered into an agreement with Joint Venture partner Po Valley Energy to acquire PVE's 75% interest in the fully awarded exploration license La Prospera. The license also includes a preliminary production concession for the Gradizza gas discovery located within the license. Aleanna will also acquire PVE's share of the preliminarily awarded adjacent exploration license Zanza.
Consideration will be EUR1,850,000 with a further amount of EUR200,000 to be paid if the final production concession for Gradizza is received by August 2016. Completion of the transaction is subject to formal approval by the Ministry of Economic Development which is expected to be received in coming weeks.