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MCF Energy Ltd. Completes Acquisition of Natural Gas Assets to Strengthen Europe's Energy Security
MCF Energy Ltd. Completes Acquisition of Natural Gas Assets to Strengthen Europe's Energy Securit...
About this update from Mcf Energy Ltd
[{"type":"text","content":"\n \n \n \n MCF Energy Ltd. Completes Acquisition of Natural Gas Assets to Strengthen Europe's Energy Security\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Trading as \"MCF\" expected to resume on the TSXV on\n \n Friday, January 6, 2023\n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 3, 2023\n \n \n /CNW/ -\n \n MCF Energy Ltd.\n \n (TSXV: MCF.H) (\"MCF Energy\" or the \"Company\") (formerly Pinedale Energy Limited) has completed its previously announced acquisition of Austrian and German hydrocarbon interests, as described in the Company's news release dated\n \n November 29, 2022\n \n . The Company has also appointed an experienced board of directors, management team and advisors, and has completed a\n \n $8.5 million\n \n private placement financing, which collectively positions MCF Energy as a leading new explorer of large-scale natural gas prospects in\n \n Western Europe\n \n . The Company expects to drill test the massive-scale Welchau prospect in\n \n Austria\n \n before\n \n September 2023\n \n and is in the process of finalizing its proposed work plan at the Reudnitz prospect in\n \n Germany\n \n with its partner.\n \n \n \"Closing this transaction is the first step for MCF Energy to help strengthen\n \n Europe's\n \n energy security,\" commented\n \n Jay Park K.C\n \n ., Executive Chairman of MCF Energy. \"We are grateful to the Exchange, our partners, and our team for closing so rapidly. We look forward to continuing this momentum and a dynamic year ahead for the Company.\"\n \n \n \n Acquisition & Partnership\n \n \n \n Pursuant to an Assignment Agreement dated\n \n November 29, 2022\n \n , as amended on\n \n January 2, 2023\n \n , Kepis & Pobe Financial Group Inc. (\"\n \n KPFG\n \n \") has assigned to the Company (the \"Assignment\") its rights under two agreements covering projects in\n \n Austria\n \n and\n \n Germany\n \n (the \"Transaction\").  The first of these agreements is the Energy Investment Agreement (\"EIA\") with ADX VIE GmbH (\"ADX\") in respect of ADX's Welchau Wel...