CALGARY, Oct. 23, 2017 /CNW/ – Ikkuma Resources Corp. (TSXV: IKM) (“Ikkuma“) is pleased to announce the closing of the previously announced disposition of 51% of its trunk-line and associated facilities (“Infrastructure Disposition“) for cash consideration of $20,000,000. The Infrastructure Disposition has an effective date of September 1, 2017. As previously announced, it is expected that the proceeds of the Infrastructure Disposition will be used to purchase certain assets located in the Alberta Foothills as well as in the British Columbia Deep Basin (the “Foothills Acquisition“), which was expected to close November 1, 2017. The Foothills Acquisition is now anticipated to close in escrow on November 1, 2017, with the final closing expected to occur upon the satisfaction of the provincial regulator, on or about December 15, 2017.
About Ikkuma Resources Corp.
Ikkuma Resources Corp. is a diversified junior public oil and gas company listed on the TSX Venture Exchange under the symbol “IKM”, with holdings in both conventional and unconventional projects in Western Canada. The technical team has worked together for over a decade in the Foothills Region of Western Canada, through two successful, publicly traded companies. The unique skills and repeat success at exploiting a complex, potentially prolific play type are fundamental ingredients for a successful growth-oriented company in Western Canada. Corporate information can be found at: www.ikkumarescorp.com.