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Maple Leaf Royalties enters agreement to purchase oil and gas ass


Published Mar 26, 2015
Maple Leaf Royalties Corp.

Maple Leaf Royalties Corp. has entered into a definitive purchase agreement with Maple Leaf 2012-II Energy Income Limited Partnership (Vendor) pursuant to which it has agreed to acquire various royalty interests and non-operated working interests in a total of 17 oil and natural gas wells in Alberta and Saskatchewan (the "Acquired Assets") in consideration of the issuance and delivery to Vendor of 23,500,000 common shares (the "Purchase Price Shares") of Maple Leaf. Based on a price of $0.45 per share, total deemed consideration is $10.575 million.

The transaction is expected to close on or about April 1, 2015 with an effective date of March 1, 2015. Closing is subject to the satisfaction of conditions customary for transactions of this nature and the receipt of all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

Tags: Maple Leaf Royalties Corp.




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