Neighbour NewsLEGACY OIL + GAS INC. ANNOUNCES CLOSING OF SPEARFISH LIGHT OIL ASSET ACQUISITION
CALGARY, March 1 /CNW/ - Legacy Oil + Gas Inc. ("Legacy") (TSX: LEG) ispleased to announce that it has completed its previously announcedacquisition (the "Acquisition") of Spearfish light oil assets in thePierson area of southwest Manitoba. Legacy paid $93 million in cash(subject to customary closing adjustments) and issued 6.18 millioncommon shares to Molopo Energy Canada Ltd. ("Molopo") pursuant to theAcquisition. The Legacy common shares issued to Molopo pursuant to theAcquisition are subject to a contractual escrow arrangement preventingtheir resale for a period of 180 days following closing.