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Persta Resources Inc.
(incorporated under the laws of Alberta with limited liability)
(Stock code: 3395)
SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO
CONTINUING CONNECTED TRANSACTIONS PURSUANT TO
RULE 14A.60(1) OF THE LISTING RULES
Reference is made to the announcement of Persta Resources Inc. (the ''Company'') dated December 19, 2019 (Hong Kong time) (the ''Announcement''), in relation to, among other things, the continuing connected transactions contemplated under the Gas Handling Agreement. Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those defined in the Announcement.
The Company wishes to provide the Shareholders and potential investors with the following supplemental information in relation to the Gas Handling Agreement.
FURTHER INFORMATION IN RELATION TO THE GAS HANDLING AGREEMENT
It was disclosed in the Announcement that the term of the Gas Handling Agreement is from May 9, 2019 to December 31, 2044. It was also disclosed in the Announcement the aggregate monthly handling charges associated with the use of Jixing Energy's Voyager gas gathering system (the ''Pipeline System'') for the period from March 1, 2020 to December 31, 2044.
The Company would like to supplement that it has not incurred any monthly handling charges pursuant to the Gas Handling Agreement from May 9, 2019 to the date of this announcement. The Pipeline System is not expected to come online until March 2020, as the construction of the natural gas pipeline and associated gas gathering infrastructure is only forecast to be completed and commissioned by March 2020. The Company will not incur any monthly handling charges unless and until the Pipeline System is commissioned and the Company begins to transport its natural gas and associated products through the Pipeline System. In the event that the Pipeline System is commissioned before March 2020, the aggregate monthly handling charges associated with the use of the Pipeline System will be C$361,000 (equals to approximately HK$2.1 million) which is calculated based on a pre-determined formula.