Blue Sky Resources Ltd. entered into an agreement to acquire Bow Energy Ltd. from Petrolia Energy Corporation (OTCPK:BBLS) on August 31, 2018. Under the terms, Blue Sky returned 70.81 million Petrolia shares, paid $0.10 million in cash, assumed $0.73 million of Bow Energy liabilities, issue 20% stake of Bow Energy International Holdings, Inc ("BOW EIH") to Petrolia, certain carry rights described in greater detail in the Exchange Agreement, providing for Blue Sky to carry Petrolia for up to the next $10 million of aggregate costs in BOW EIH, with any profits from BOW EIH being distributed 80% to Bow and 20% to Petrolia, pursuant to a Petrolia Carry Agreement and a 3% royalty after Bohorok PSC Cost Pool recovery, on Bukit Energy Bohorok Pte Ltd’s participating interest in the Bohorok PSC. Petrolia plans to cancel the 70.81 million shares and return such shares to the status of authorized but unissued shares of common stock after closing. Tariq Chaudhary, Petrolia's Chief Financial Officer, is, and will continue serving as the Chief Financial Officer of Bow following the closing. Blue Sky Resources Ltd. completed the acquisition of Bow Energy Ltd. from Petrolia Energy Corporation (OTCPK:BBLS) on August 31, 2018.