Wellstar Energy Corp. (TSXV:WSE) announced that it has signed a share purchase and sale agreement regarding the acquisition of certain oil and gas assets located in Alberta and Saskatchewan from an arm’s-length vendor.

As quoted in the press release:

Pursuant to the terms of the Definitive Agreement, the Company will acquire the Assets in consideration for aggregate cash payments of $1,600,000 (subject to adjustment in certain circumstances), including $200,000 upon closing the Acquisition, and the issuance by the Company of 4,000,000 warrants (the “Acquisition Warrants”).

Click here for the full Wellstar Energy Corp. (TSXV:WSE) press release