Business
Proposed Acquisition Extension
Proposed Acquisition Extension.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1434U Nostra Terra Oil & Gas Company PLC 05 April 2016 \n\n5 April 2016\n \nNostra Terra Oil and Gas Company plc\n(\"Nostra Terra\" or the \"Company\")\n \nProposed Acquisition Extension\n \nFurther to the announcements of 22 February and 1 April 2016 regarding the proposed acquisition of a 60% interest in producing assets in the Permian Basin of New Mexico from Alamo Resources II, LLC (\"Proposed Acquisition\"), Nostra Terra announces that an extension to the closing to 29 April 2016 has been granted by an agreement dated 4 April 2016. As payment for this extension Nostra Terra will issue 118,626,040 new ordinary shares in the Company at 0.10 pence per share (\"Shares\") to Alamo Resources II, LLC immediately. The payment on closing of the Proposed Acquisition will be reduced by US$130,000.\n \nThe shares will rank pari passu in all respects with the Company's existing issued ordinary shares. Application has been made for the admission of the Shares to trading on AIM and it is expected that admission will occur and that dealings will commence at 8.00 a.m. on 8 April 2016. \n \nFollowing Admission, the Company's issued share capital will consist of 3,828,204,316 Ordinary Shares with no Ordinary Shares held in treasury. Therefore the above figure of 3,828,204,316 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\n \nMatt Lofgran, Chief Executive Officer of Nostra Terra, commented:\n \n\"We're pleased to have been granted the extension by the seller as we continue to progress towards closing, where we anticipate the acquisition will be financed with debt.\" \n \n \nFor further information, visit www.ntog.co.uk or contact:\n \n\n\n\n\nNostra Terra Oil and Gas Company plc\nMatt Lofgran, CEO\[email protected] \n \n\n\n\n\n\n +1 480 993 8933\n\n\n\n\nStrand Hanson Limited \n(Nominated & Financial Adviser and Joint Broker)\n\n\n\n\n\n+44 (0) 20 7409 3494\n\n\n \n\n\n\n\nRory Murphy / Ritchie Balmer\n\n\n\n\n\n\n\n\n \n\n\n...