Blackhawk Resources Terminates Acquisition of Global Royalty Corp.
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 11/25/13 -- Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE: BLR) announces it has terminated the Agreement to acquire all the issued shares of Global Royalty Corp. The agreement is being terminated as Global Royalty Corp. has received a superior offer. As part of the termination agreement, Blackhawk will receive a termination fee of $250,000, which covers all the costs incurred to date on the proposed transaction. In addition the $1,650,000 loan advanced from the Company to Global will be repaid with all accrued interest.
The Corporation continues to have production from its Western Canadian projects, and in particular, its Bodo oil properties. As well the Corporation will begin to evaluate resource opportunities. Blackhawk currently produces approximately 40 BOE/D and has working capital of approximately $3,200,000 and no debt.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Blackhawk Resource Corp.
Dave Antony
CEO
(403) 531-1710
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Datum: 25.11.2013 - 16:27 Uhr
Sprache: Deutsch
News-ID 320075
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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