- Ankh Capital (ANKH) has announced a proposed business combination with Home Run Oil & Gas
- The Vancouver-based company signed a non-binding letter of intent with the Calgary energy company
- If finalized, the newly-formed business entity would meet the listing requirements for a Tier 2 Oil and Gas issuer
- Ankh Capital has not yet commenced operations and has no significant assets
- Ankh Capital is unchanged, trading at $0.09 at 1:45 p.m. ET
Ankh Capital (ANKH) has announced a proposed business combination with Home Run Oil & Gas.
The Vancouver-based company signed a non-binding letter of intent with the Calgary energy company.
If the deal is finalized, the newly-formed business entity would meet the listing requirements for a Tier 2 Oil and Gas issuer under TSX Venture Exchange policies.
Ankh is a capital pool company and has not yet commenced operations and has no significant assets.
The company currently has 15,620,000 Ankh Common Shares issued and outstanding.
Home Run is a private junior oil and gas exploration and development company currently active in west central Alberta, specifically in the Ante Creek N. Area.
It owns a 100-percent- working interest in 22.5 sections of lands, leases and licenses covering 5,760 hectares. The company has a proven reserve value of $12.67 million and proven plus probable reserve value of $21.13million.
The company expects to drill the first well, on a proven reserve location at Ante Creek N., before the end of the third quarter.
Ankh Capital is unchanged, trading at $0.09 at 1:45 p.m. ET.
