Leucrotta Exploration Inc. is pleased to announce that, further to its press release dated March 15, 2021, it has closed the previously announced disposition of 10.25 sections of nonstrategic Montney lands (the "Asset Sale"), comprising approximately 5% of Leucrotta's Montney land base, for aggregate consideration
of $30.0 million.
The Company intends to use the proceeds from the Asset Sale to repay debt, advance the initiation of a Pad Development program in the Lower Montney at Mica (the "Mica Project"), and for general working capital purposes.
