Blackbird Energy Inc. to Acquire Elmworth/Pipestone Lands, Increasing Montney Land Holdings to 116 Gross Sections (100.9 Net), and Announces Results of 2017 AGM
Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to announce that it has entered into a binding agreement with Knowledge Energy Inc. for the acquisition of two gross sections (two net) of Montney rights for total consideration of 1,923,077 Blackbird common shares (the "Acquisition"). These lands are contiguous with Blackbird's existing lands and will, upon closing, increase Blackbird's Montney rights at Elmworth/Pipestone to 116 gross sections (100.9 net).
Closing of the Acquisition is subject to TSX Venture Exchange acceptance and certain other conditions customary for acquisitions of this nature. Closing of the Acquisition is expected to occur on or around March 23, 2017.
Results of the 2017 Annual and Special Meeting of Shareholders
Blackbird is pleased to announce that all matters put forth in the notice of meeting and management information circular of the Company dated January 13, 2017 were passed at the annual and special meeting of shareholders ("AGM") held on March 8, 2017, including: the election of Garth Braun, Kevin Andrus, Sean Campbell, William Macdonald, Ron Schmitz, and Burton Ahrens as directors of the Company until the next AGM; the re-appointment of Davidson & Company LLP as the auditors of the Company; the annual re-approval of the Company's incentive stock option plan; the ratification of the advance notice policy of the Company; and an amendment to the articles of the Company to clarify the applicability of the proxy provisions provided therein.
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.
For more information please view our Corporate Presentation at www.blackbirdenergyinc.com.
SOURCE: Blackbird Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.