Calgary, Alberta – Leucrotta Exploration Inc. (TSXV: LXE) (“Leucrotta” or the “Company”) is pleased to announce that, further to its press release dated March 15, 2021, it has closed the previously announced disposition of 10.25 sections of non-strategic Montney lands (the “Asset Sale“), comprising approximately 5% of Leucrotta’s Montney land base, for aggregate consideration of $30 million.
The Company intends to use the proceeds from the Asset Sale to repay debt, advance the initiation of a Pad Development program in the Lower Montney at Mica (the “Mica Project“), and for general working capital purposes.
For further information on the Asset Sale and the Mica Project, please see the Company’s press release dated March 15, 2021 that is available on Leucrotta’s SEDAR profile at www.sedar.com.