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Canadian Spirit Resources Inc. Announces Sale of East Block Montney Lands
Canadian Spirit Resources Inc. Announces Sale of East Block Montney Lands Canada NewsWi...
About this update from Canadian Spirit Resources Inc.
[{"type":"text","content":"\n \n \n \n Canadian Spirit Resources Inc. Announces Sale of East Block Montney Lands\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES OF AMERICA\n \n ./\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 25, 2024\n \n \n /CNW/ -\n \n Canadian Spirit Resources Inc. (\"CSRI\" or the \"Corporation\")\n \n (TSXV: SPI) (OTCBB: CSPUF) is pleased to announce that it has entered into a definitive purchase and sale agreement to sell certain oil and natural gas assets in\n \n Northeastern British Columbia\n \n (the \"\n \n Asset Disposition\n \n \"), for gross cash proceeds to the Corporation of\n \n $5.0 million\n \n (the \"\n \n Purchase Price\n \n \"), subject to closing adjustments.\n \n \n The Asset Disposition includes approximately 10,350 net acres of undeveloped\n \n Montney\n \n lands located in the\n \n Farrell Creek\n \n and\n \n Attachie\n \n areas of\n \n Northeastern British Columbia\n \n (the \"\n \n Assets\n \n \"). There is no production, facilities, or reserves associated with the Assets.\n \n \n The effective date of the Asset Disposition is\n \n March 1, 2024\n \n and the closing date is\n \n June 25, 2024\n \n .\n \n \n The Asset Disposition is a result of the Corporation's previously announced strategic review process conducted with Sayer Energy Advisors (\"\n \n Sayer\n \n \").\n \n \n Sayer continues to work with the Corporation to review strategic alternates, which may include, among other alternatives, the addition of capital to further develop the potential of the remaining assets, the sale of the Corporation or a portion of its assets, a merger, farm-in or joint venture, or other such options as may be determined by the board of directors of CSRI to be in the best interests of the Corporation and its shareholders.\n \n \n Information regarding CSRI is available on SEDAR+ at\n \n www.sedarplus.com\n \n or the Corporation's website at\n \n www.csri.ca\n \n .\n \n \n On behal...