CALGARY, ALBERTA–(Marketwired – March 23, 2017) – Blackbird Energy Inc. (“Blackbird“) (TSX VENTURE:BBI) is pleased to report that it has closed the previously announced acquisition (the “Acquisition“) of two gross sections (two net) of Montney rights from Knowledge Energy Inc. (“Knowledge“) pursuant to the terms of an asset sale agreement dated March 16, 2017. The Acquisition is effective March 1, 2017.
Blackbird issued an aggregate of 1,923,077 common shares to Knowledge as consideration for the Acquisition(the “Consideration Shares“). The Consideration Shares are subject to a hold period expiring July 24, 2017.
The Acquisition increases Blackbird’s Montney rights at Elmworth / Pipestone to 116 gross sections (100.9 net).
Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.