LGO longreach oil limited
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News: LGO Longreach Oil signs binding term sheet to acquire Starlogik

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    26/02/16
    11:54
    Post #: 17124458

    Feb 26 (Reuters) - Longreach Oil Ltd (LGO) :

    • Binding term sheet to acquire starlogik (LGO)
    • Acquisition is conditional on lgo raising aud$8 million
    • Term sheet to acquire the remaining 95% of starlogik ip llc
    • Under deal, existing shareholders obtain 74% increase in aggregate indirect interest in starlogik from 5% to 8.3% without needing to invest further capital
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