Guardian Announces Proposed Asset Sale
24 6월 2010 - 3:38AM
Marketwired Canada
Guardian Exploration Inc. ("Guardian" or the "Corporation") (TSX VENTURE:GX)
announces it has entered into an offer to purchase (the "Offer") with Blackdog
Resources Inc. ("Blackdog") (TSX Venture: DOG), an arm's length, oil and gas
production company, for the sale of the Corporation's working interest assets in
its Girouxville East lands for $740,000.00, subject to closing adjustments,
consisting of $710,000 in cash and 100,000 common shares of Blackdog at a deemed
price of $0.30 per share. The offer is subject to typical conditions, including
satisfactory due diligence, board approvals, the negotiation of a definitive
purchase and sale agreement, and required regulatory approvals. Sayer Energy
Advisors is acting as financial advisor to Guardian with respect to the
transaction. The effective date of the sale is June 1, 2010 and closing is
expected to occur on or before July 19, 2010.
The sale proceeds will be used to reduce the Corporation's outstanding debt and
to provide funds for ongoing operations.
Guardian is a Calgary-based corporation engaged in the acquisition, exploration
and development of resource properties. Common shares of the company trade on
the TSX Venture Exchange under the trading symbol "GX".
Investors are cautioned that this news release contains forward looking
information. Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results or events
and cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are cautioned
not to place undue reliance on forward-looking information, as no assurances can
be given as to future results, levels of activity or achievements.
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