Point Loma Resources Ltd (CVE: PLX) said on Wednesday it has closed the agreement to acquire oil and gas assets, effective on Jan. 1, from a private oil and gas company with the issuance of 3.35 million shares of Point Loma.
“This acquisition will continue Point Loma’s growth in size and strength as a junior oil and gas company. We continue to seek quality assets that will extend our core focus area at favourable acquisition metrics,” said Terry Meek, president and chief executive officer of Point Loma.
“The expansion of our focus area will continue to build shareholder value as Point Loma develops the Mannville trend in west-central Alberta.”
Story by ProactiveInvestors