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CLOSES LAND ACQUISITION FROM PARAMOUNT RESOURCES

 

Blackbird Energy Inc. (BBI.V) has closed the previously announced acquisition of eight gross sections of Montney rights (2.8 net) from Paramount Resources Ltd., pursuant to the terms of a purchase and sale agreement dated Feb. 2, 2017. The acquisition is effective Feb. 1, 2017.

Blackbird issued an aggregate of five million common shares to Paramount as consideration for the acquisition. 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).

About Blackbird Energy Inc.

Blackbird 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, Alta.