News: CE1 Calima Energy Announces Cash Sale Of Blackspur Oil Corp For A$83.3 Million

Jan 5 (Reuters) - Calima Energy Ltd (CE1) :

• CASH SALE OF BLACKSPUR OIL CORP FOR A$83.3M-
• FOLLOWING COMPLETION, CE1 INTENDS TO DISTRIBUTE NO LESS THAN 85% OF SALE PROCEEDS TO CE1 SHAREHOLDERS
• PARTIES AIM TO COMPLETE TRANSACTION ABOUT 10 DAYS AFTER SHAREHOLDER APPROVAL, BUT NO LATER THAN 30 MARCH 2024
• AGREED TO SELL BLACKSPUR OIL CORP FOR A CASH CONSIDERATION OF A$83.3 MILLION
• HAS ENTERED INTO BINDING DEFINITIVE AGREEMENT WITH ASTARA ENERGY CORP
• CO WILL RETAIN ITS PARADISE WELL ASSET HELD VIA CALIMA ENERGY IN BRITISH COLUMBIA