Stealth Completes Interest Sale to Panterra
Stealth Ventures Ltd. has completed the sale of certain oil and gas assets in the province of Saskatchewan to PanTerra Resource Corp.
Pursuant to the terms of the agreement between Stealth and PanTerra, PanTerra issued 13,000,000 common shares to Stealth at a deemed price of $0.25 per share, for aggregate consideration of $3,250,000. These shares are subject to restrictions on transfer until October 1st, 2008.
Also, Stealth now holds a total of 13,000,000 common shares of PanTerra, representing 19.5% of PanTerra's issued and outstanding common shares on an undiluted basis.
Stealth may from time to time increase or decrease its ownership of, or control over, any of PanTerra's securities through market transactions, private agreements or otherwise, subject to applicable regulatory requirements. Stealth also announces that it has filed the requisite Early Warning Notice as a result of its acquisition of these shares of PanTerra.
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Company: PanTerra Resources Corp. more info
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