QUATTRO EXPLORATION AND PRODUCTION LTD. ("QXP")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 26, 2016
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation pursuant to a Share Purchase Agreement dated June 30, 2016, as amended on August 31, 2016 (the "Agreement") between the Company and GFI Petroleum (Guatemala) Limited ("GFI"), pursuant to which the Company intends to purchase a 100% interest in the El Cedro License, Block 6-2012 in Guatemala, consisting of approximately 34,723 hectares in the South Peten Basin. In consideration, the Company will issue 60,000 Class C, Series 5, preferred shares of the Company ("Preferred Shares") at a deemed price of $100 per Preferred Share. The Preferred Shares are priced at $100 per share and pay an annual preferred dividend of $3.50 per share. The holder will have the right on the anniversary of the 2nd year of issuance to convert the Preferred Shares into Class A common shares of the Company at a ratio of 0 Class A common shares for each Preferred Share converted.
Insider / Pro Group Participation: None
For further information, please refer to the Company's press releases dated March 1, 2016 and September 15, 2016.
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