GREY:QEXXF - Post by User
Post by
ratpoysenon Aug 03, 2016 12:34pm
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Post# 25106717
Not very convincing - another fancy piece of accounting...
Not very convincing - another fancy piece of accounting...https://www.wellstarenergy.com/s/NewsReleases.asp?ReportID=757536&_Type=&_Title=WellStar-Energy-Corp.-Enters-into-12000000-Letter-of-Intent-to-Acquire-Oper...
WellStar Energy Corp. Enters into $12,000,000 Letter of Intent to Acquire Operated Oil & Gas Assets in Alberta, Canada
Calgary, AB, July 28, 2016 - WELLSTAR ENERGY CORP. (TSX-V: WSE) (the "Company") advises that the Company has entered into a Letter of Intent dated as of July 27, 2016 (the "LOI") in connection with the acquisition of certain oil & gas assets located in East Central Alberta (the "Assets") from an arm's length vendor (the "Acquisition"). Pursuant to the terms of the LOI, the Company will acquire the Assets in consideration for a net purchase price of $12,000,000 including aggregate cash payments of $8,000,000 and the issuance of $4,000,000 of common shares of the Company at a deemed price of $0.50 per share.
Today's share price for WSE is 12 cents - recent average S/P was 5 cents
Current market cap is $2.4MM - Shares outstanding 24.4MM shares
Average volume 32,600 shares per day - Current P/E is -0.823