BRIEF-Raimount Energy to consolidate company's interest in Garrington and Woolford areas

Wed Mar 23, 2016 4:25pm EDT
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March 23 (Reuters) - Raimount Energy Inc

* Entered into 2 binding loi to consolidate company's interest in garrington and woolford areas in which co currently operates

* Company will be paying up to $1.1 million for each 25% interest in assets

* Remains well financed to proceed with development of its properties, with no debt and approximately $6 million in cash

* Raimount energy inc. Announces strategic acquisition Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)