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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Redcliffe Exploration Inc. | TSXV:RXP.A | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS. Redcliffe Exploration Inc. ("Redcliffe") (TSX VENTURE:RXP.A) (TSX VENTURE:RXP.B) is pleased to announce that it has completed the previously announced acquisition of First Western Financial Ventures Inc. ("FWF") for cash and shares (the "Acquisition"). Under the terms of the Acquisition, Redcliffe acquired all of the 8,800,000 issued and outstanding common shares of FWF in exchange for $22,500 cash and 8,620,000 Class A shares of Redcliffe. The net assets acquired consist of working capital - cash and cash equivalents less accounts payable and accrued liabilities, before transaction costs incurred by FWF - of approximately $1.65 million. In connection with the closing of the Acquisition, Redcliffe paid Jennings Capital Inc. a fee of $65,000. Redcliffe is a Calgary, Alberta based company engaged in the exploration for, and development and production of conventional crude oil and natural gas reserves in western Canada. Redcliffe's strategy is to build shareholder value through internally generated exploration and development drilling, and through selective acquisitions. Redcliffe's primary area of operational focus is the Peace River Arch with development activity in the Pembina area of Alberta. Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.
1 Year Redcliffe Exploration Inc. Chart |
1 Month Redcliffe Exploration Inc. Chart |
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