TORONTO, August 16, 2021 (GLOBE NEWSWIRE) – Decklar Resources Inc. (DKL-TSX Venture) (the “Company”) announces that according to press releases dated August 31, 2020, September 30, 2020, November 2, 2020, November 23, 2020 and December 15, 2020, the parties have agreed to continue to adhere to the subscription agreement entered into with a subsidiary of San Leon Energy Plc work to enter into certain conditions precedent in the subscription agreement.
This transaction continued to take longer than expected to close in response to Covid-19 due to various travel and logistics restrictions. Despite these delays, progress has been made. All other material terms of the transaction remain unchanged.
The Company also announces that the deadline for achieving the production milestone set out in the Share Purchase Agreement (“SPA”) with the sellers of Decklar Petroleum Limited has been extended to March 31, 2022, to produce a net production at Millenium Oil and Gas Company Limited of 1,000 barrels / day for for a period of 10 consecutive days within a 30 day period within 12 months of the closing date of the SPA, Decklar Resources, Inc. will issue 8,000,000 common shares for allocation as determined in the SPA.
For more information:
Duncan T. Blount
CEO Telephone: +1 305 890 6516
E-mail: dblount@decklarresources.com
David Halpin
Chief Financial Officer Phone: +1 403 816 3029
E-mail:davidhalpin@decklarpetroleum.com
Investor Relations: info@decklarresources.com
Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
