Minecorp Energy Ltd. (TSXV:MCE) entered into a letter of intent to acquire 70% stake in BOE Oil Tools Inc. for CAD 0.87 million on April 4, 2017. As consideration, Minecorp Energy will pay CAD 0.14 million over 12 months and will issue a total of 6.11 million shares of Minecorp Energy. As per the terms of the deal, 2.96 million of the consideration shares are to be held in escrow for five years and are subject to the right of Minecorp Energy to repurchase some or all of such shares. Closing of the acquisition remains subject to execution of a definitive agreement and acceptance of the transaction by the TSX Venture Exchange. Minecorp Energy Ltd. (TSXV:MCE) cancelled the acquisition of 70% stake in BOE Oil Tools Inc. during the year ended March 31, 2018.