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Leucrotta Exploration Inc. Announces Closing of Acquisition

Posted On May 17th
By : The Canadian Press
Comment: Off

FOR: LEUCROTTA EXPLORATION INC.
TSX VENTURE SYMBOL: LXE

Date issue: May 17, 2017
Time in: 7:06 PM e

Attention:

CALGARY, ALBERTA--(Marketwired - May 17, 2017) -

THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES, FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW

Leucrotta Exploration Inc. ("Leucrotta" or the "Company") (TSX VENTURE:LXE) is pleased to announce that, further to its press release dated April 5, 2017 wherein the Company announced that it had agreed to acquire 18.5 net sections of undeveloped land (the "Lands") located within the Corporation's core area encompassing 116 gross (105 net) sections of the Lower Montney Turbidite Light Oil Resource Play pursuant to a purchase and sale agreement and a land swap agreement for aggregate cash consideration of $36 million (subject to certain customary purchase price adjustments) with respect to the majority of the Lands (the "Land Acquisition") and the swap of certain non-core sections of the Corporation's lands located in Two Rivers area of British Columbia with respect to the balance of the Lands, the Company has closed the Land Acquisition. For further details please see Leucrotta's press release dated April 5, 2017 and its short form prospectus dated April 19, 2017, both of which are available under Leucrotta's System for Electronic Document Analysis and Retrieval (SEDAR) profile at www.sedar.com.

ABOUT LEUCROTTA EXPLORATION INC.

Leucrotta Exploration Inc. is a Montney focused producer with lands located in the Doe/Mica area in northeast British Columbia. Leucrotta's current acreage in the area is approximately 100,500 gross (90,200 net) acres or approximately 157 gross (141 net) sections of Montney land. Current production is approximately 2,700 boe/d (25% oil & NGLs). Leucrotta's shares are listed on the TSX Venture Exchange under the symbol "LXE".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

- END RELEASE - 17/05/2017

For further information:
Leucrotta Exploration Inc.
Robert Zakresky
President and Chief Executive Officer
(403) 705-4525
OR
Leucrotta Exploration Inc.
Nolan Chicoine
Vice President, Finance and Chief Financial Officer
(403) 705-4525
OR
Leucrotta Exploration Inc.
700, 639 - 5th Ave SW
Calgary, Alberta T2P 0M9
(403) 705-4525
(403) 705-4526 (FAX)
www.leucrotta.ca

COMPANY:
FOR: LEUCROTTA EXPLORATION INC.
TSX VENTURE SYMBOL: LXE

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170517CC0089

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

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