CALGARY, Oct. 23, 2017 /CNW/ - Ikkuma Resources
Corp. (TSXV: IKM) ("Ikkuma") is pleased to announce the
closing of the previously announced disposition of 51% of its
trunk-line and associated facilities ("Infrastructure
Disposition") for cash consideration of $20,000,000. The Infrastructure Disposition
has an effective date of September 1,
2017. As previously announced, it is expected that the
proceeds of the Infrastructure Disposition will be used to purchase
certain assets located in the Alberta Foothills as well as in the
British Columbia Deep Basin (the "Foothills Acquisition"),
which was expected to close November
1, 2017. The Foothills Acquisition is now anticipated
to close in escrow on November 1,
2017, with the final closing expected to occur upon the
satisfaction of the provincial regulator, on or about December 15, 2017.
About Ikkuma Resources Corp.
Ikkuma Resources Corp. is a diversified junior public oil and
gas company listed on the TSX Venture Exchange under the symbol
"IKM", with holdings in both conventional and unconventional
projects in Western Canada.
The technical team has worked together for over a decade in
the Foothills Region of Western
Canada, through two successful, publicly traded companies.
The unique skills and repeat success at exploiting a complex,
potentially prolific play type are fundamental ingredients for a
successful growth-oriented company in Western Canada.
Corporate information can be found at: www.ikkumarescorp.com.
NEITHER 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.
Forward-Looking Statements and Information and Cautionary
Statements
This press release contains forward‑looking statements and
forward‑looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward‑looking
statements or information. In particular the press release
contains forward-looking statements and information relating to the
completion of the Foothills Acquisition and the timing thereof and
the use of proceeds of the Infrastructure Disposition.
Although Ikkuma believes that the expectations and assumptions
on which the forward‑looking statements and information are based
are reasonable, undue reliance should not be placed on the
forward‑looking statements and information because Ikkuma cannot
give any assurance that they will prove to be correct. Since
forward‑looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. The forward-looking statements and
information is based on certain key expectations and assumptions
made by management, including expectations and assumptions
concerning: the satisfaction of all conditions to the closing of
the Acquisition and on the time frames contemplated. Actual results
could differ materially from those currently anticipated due to a
number of factors and risk. These include but are not limited
to: failure to complete the Acquisition and the risks
associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses; failure to obtain
necessary regulatory approvals for planned operations; health,
safety and environmental risks; uncertainties resulting from
potential delays or changes in plans with respect to exploration or
development projects or capital expenditures; volatility of
commodity prices, currency exchange rate fluctuations; imprecision
of reserve estimates; and competition from other explorers) as well
as general economic conditions, stock market volatility, and the
ability to access sufficient capital. Ikkuma cautions that
the foregoing list of risks and uncertainties is not
exhaustive.
In addition, the reader is cautioned that historical results
are not necessarily indicative of future performance. The
forward-looking statements and information contained in this press
release are made as of the date hereof and Ikkuma undertakes no
obligation to update publicly or revise any forward‑looking
statement or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
SOURCE Ikkuma Resources Corp.