Storm Resources Ltd. completed the acquisition of Montney acreage in Nig area of Northeast British Columbia from Yoho Resources Partnership.
The transaction is subject to subject to customary conditions and receipt of applicable regulatory approvals, listing of new shares and approval of lenders. The closing of the transaction is expected to occur on or about January 31, 2014. The proceeds will be utilized to eliminate Yoho's current bank indebtedness and to fund further exploration and development drilling activities on Yoho's Duvernay acreage in the Kaybob area of west central Alberta and at Inga, British Columbia. FirstEnergy Capital Corp. acted as financial advisor to Yoho. Burnet, Duckworth & Palmer LLP acted as legal counsel for Yoho.
Storm Resources Ltd. (TSXV:SRX) completed the acquisition of Montney acreage in Nig area of Northeast British Columbia from Yoho Resources Partnership on January 31, 2014.