Black Birch Capital Acquisition I Corp. (TSX-V: BBC.P) has entered a letter of intent ("LOI") with Shoal Point Energy Ltd. for a possible business combination transaction with Shoal Point and their shareholders. The transaction is for Black Birch to acquire all common shares in the capital of Shoal Point in exchange for the issuance of common shares in the capital of Black Birch.
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Shoal Point and Black Birch plan on issuing additional press releases and updates as the definitive agreement is signed, due diligence is completed and other milestones are achieved. The shares of Black Birch will remain halted until the completion of the Qualifying Transaction.
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