March 09, 2022

Sintana Energy acquisition of Inter Oil interest

Sintana Energy Inc (2) (C:SEI)
Shares Issued 138,966,503
Last Close 3/9/2022 $0.19
Wednesday March 9 2022 - Acquisition

The TSX Venture Exchange has accepted for filing documentation a purchase and sale agreement dated Sept. 13, 2021, between the company and Grisham Assets Corp. Pursuant to the terms of the agreement, the company will acquire 49 per cent of the issued and outstanding shares of Inter Oil Pty. Ltd., a current wholly owned subsidiary of the vendor, in return for $4-million in cash and further issuing 34,933,333 common shares of the company as total consideration. Inter Oil is a private company that indirectly holds a strategic portfolio of offshore petroleum exploration licence interests.

Insider/pro group participation:none

For further information, please refer to the company's news releases dated Sept. 15, 2021, and March 8, 2022.

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