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CALGARY,
AB, March 20, 2023 /CNW/ - Tuktu Resources
Ltd. ("Tuktu" or the "Company") (TSXV: TUK) is pleased to
announce the closing of the acquisition of assets owned and
operated by an arm's length private company in the southern Alberta
Foothills (the "Assets") as previously announced in a press release
on December 8, 2022.
As consideration for the Assets, Tuktu issued 10 million units
of the Company ("Units"), which Units are comprised of one common
share ("Common Share") of the Company and one purchase warrant
("Warrants"). The Units were issued at a deemed price of
$0.12 per Unit. The Warrants will be
exercisable at $0.30 per Common Share
for a period of three (3) years. No cash was paid by Tuktu in
respect of the Assets as a result of customary transaction
adjustments.
About Tuktu Resources
Ltd.
Tuktu is an Alberta corporation
whose common shares are currently listed on the TSXV under the
trading symbol "TUK". For additional information about Tuktu please
contact:
Tuktu Resources Ltd.
501, 888 – 4th Avenue S.W.
Calgary, Alberta T2P 0V2
This press release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
All amounts in this press release are stated in Canadian dollars
unless otherwise specified.
SOURCE Tuktu Resources Ltd.