Kierland Resources Ltd. (TSX-V: KIR) has announced the share purchase agreement for the purchase of a privately owned company (Private Company) that holds oil and gas properties in Saskatchewan has been restated and amended.
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In the amended agreement, the small minority shareholder will be paid in cash for its shares in the Private Company with the balance of the purchase price for the remaining shares of the Private Company to be satisfied by Kierland through the issuance of up to C$14.1 million common shares to the other vendors at a price of $0.10 per share, assumption of Private Company's bank debt of about $800,000 and a cash payment of up to C$1 million to satisfy and settle with the credits of the Private Company.
About Kierland Resources Ltd.
Kierland Resources Ltd. is a publicly traded junior oil and gas company focused on exploration and development of oil and natural gas including Saskatchewan and Alberta. The Company remains focused on strategic acquisitions and aggressively expanding production, reserves and opportunistic transactions in this sector.b
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