CALGARY, Nov. 14, 2017 /CNW/ - Ikkuma Resources
Corp. (TSXV: IKM) ("Ikkuma") is pleased to
announce that its previously announced acquisition of certain
assets located in the Alberta Foothills as well as in the British
Columbia Deep Basin (the "Foothills Acquisition") for cash
consideration of $34,000,000, subject
to customary adjustments, has closed in escrow. The Foothills
Acquisition has an effective date of July 1,
2017. Final closing is anticipated to be completed on or
about 30 days from the date hereof, subject to receipt of standard
regulatory approvals by governmental entities.
About Ikkuma Resources Corp.
Ikkuma Resources Corp. is a diversified junior public oil and
gas company listed on the TSX Venture Exchange under the symbol
"IKM", with holdings in both conventional and unconventional
projects in Western Canada.
The technical team has worked together for over a decade in
the Foothills Region of Western
Canada, through two successful, publicly traded companies.
The unique skills and repeat success at exploiting a complex,
potentially prolific play type are fundamental ingredients for a
successful growth-oriented company in Western
Canada. Corporate information can be found at:
www.ikkumarescorp.com.
NEITHER 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 RELEASE.
Forward-Looking Statements and Information and Cautionary
Statements
This press release contains forward‑looking statements and
forward‑looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward‑looking
statements or information. In particular the press release
contains forward-looking statements and information relating to the
completion of the Foothills Acquisition and the timing thereof.
Although Ikkuma believes that the expectations and assumptions
on which the forward‑looking statements and information are based
are reasonable, undue reliance should not be placed on the
forward‑looking statements and information because Ikkuma cannot
give any assurance that they will prove to be correct. Since
forward‑looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. The forward-looking statements and
information is based on certain key expectations and assumptions
made by management, including expectations and assumptions
concerning: the satisfaction of all conditions to the closing of
the Foothills Acquisition and on the time frames contemplated.
Actual results could differ materially from those currently
anticipated due to a number of factors and risk. These
include but are not limited to: failure to complete the Foothills
Acquisition and the risks associated with the oil and gas
industry in general (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect
to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and
projections relating to production, costs and expenses; failure to
obtain necessary regulatory approvals for planned operations;
health, safety and environmental risks; uncertainties resulting
from potential delays or changes in plans with respect to
exploration or development projects or capital expenditures;
volatility of commodity prices, currency exchange rate
fluctuations; imprecision of reserve estimates; and competition
from other explorers) as well as general economic conditions, stock
market volatility, and the ability to access sufficient
capital. Ikkuma cautions that the foregoing list of risks and
uncertainties is not exhaustive.
In addition, the reader is cautioned that historical results
are not necessarily indicative of future performance. The
forward-looking statements and information contained in this press
release are made as of the date hereof and Ikkuma undertakes no
obligation to update publicly or revise any forward‑looking
statement or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
SOURCE Ikkuma Resources Corp.