Mr. Dallas Duce reports
3MV ENERGY ANNOUNCES CLOSE OF SALE OF ASSETS
3MV Energy Corp. has closed the previously
announced (press release dated July 21, 2014) sale of assets in southwest
Saskatchewan. 3MV has sold a land package with
corresponding production, related inventory and equipment within the
property. The purchase price of the assets is $4.35-million
subject to usual adjustments.
Proceeds of the transactions will be applied to reduce 3MV's corporate
liabilities as well as provide additional funds for future
acquisitions. The sale of these assets advances the company's strategic
goal of reducing its debt load and further focuses its development
strategy on its Fiske Viking property in west-central Saskatchewan.
The TSX Venture Exchange conditionally approved the sale of the assets
subject to submission of final documentation.
We seek Safe Harbor.
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