Raging River Exploration Inc. is pleased to announce it has closed its previously disclosed acquisitions of two private companies, each holding certain oil and gas assets located in the Kerrobert area of Saskatchewan, for an aggregate purchase price of approximately $29.4 million, subject to post-closing adjustments. The vendors pursuant to the acquisitions are arm”s length of the Company. The purchase price was comprised of approximately $7.2 million in cash and 8,375,000 common shares of the Company issued at a deemed price of $2.65 per share.
Additional corporate information can be found in our December corporate presentation on our website at www.rrexploration.com and at www.sedar.com.