February 15, 2017
February 15, 2017 - Calgary, Alberta (TSX-V: BBI) Blackbird Energy Inc. (“Blackbird”) is pleased to report that it has closed the previously announced acquisition (the "Acquisition") of 8 gross sections of Montney rights (2.8 net) (the “Acquisition Lands”) from Paramount Resources Ltd. (“Paramount”) pursuant to the terms of a purchase and sale agreement dated February 2, 2017. The Acquisition is effective February 1, 2017.
Blackbird issued an aggregate of 5,000,000 common shares to Paramount as consideration for the Acquisition (the “Consideration Shares”). The Consideration Shares are subject to a hold period expiring June 16, 2017.
The Acquisition Lands increase Blackbird’s Montney rights at Elmworth / Pipestone to 102 gross sections (96.8 net).
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 or contact:
Blackbird Energy Inc.
Chairman, CEO and President
Chief Financial Officer
Vice President, Business Development
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. Neither THE TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this PRESS release.
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