Eagleford Energy Inc. (EFRDF) Signs Agreement to Purchase Private Oil and Gas Company
Eagleford Energy Inc. announced that the company has signed an agreement to purchase a private oil and gas company that owns properties that are prospective for the Eagle Ford Shale in Texas. Eagleford Energy Inc. is purchasing Dyami Energy LLC for total consideration of $4.1 million. The company will issue $3.14 million worth of units at $0.90 per unit and exchange these units to acquire 100% of the ownership interests of Dyami Energy LLC. Eagleford Energy Inc. will also assume $960,000 of debt owed by Dyami Energy LLC to various entities through the issuance of a secured promissory note. The…