Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/maxim-signs-extension-agreement-with-quest-for-clo.shtmlMaxim signs extension agreement with Quest for closing acquisition
Maxim Resources Inc. has signed an extension agreement with Quest Investments LLC, (QI), for its acquisition of an equity stake in Quest Oil & Gas
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Maxim Resources Inc. has signed an extension agreement with Quest Investments LLC, (QI), for its acquisition of an equity stake in Quest Oil & Gas Ventures Inc., (Quest).
Specifically, as disclosed in its press release dated June 2, 2015, Maxim entered into a share purchase agreement (the "SPA") with QI pursuant to which QI will become a control person (as defined under the rules of the TSX V listing rules) in Maxim.
In addition, pursuant to the terms of the SPA, Maxim will acquire up to a 50% equity interest in Quest which will provide Maxim with a minimum of 13.125% indirect equity ownership interest in an oil and gas concession covering an onshore area of 747km2within the Emirate of Umm Al-Quwain in the United Arab Emirates.
