BRIEF-Petrofrontier announces asset acquisition in Alberta

Wed Jun 1, 2016 9:19am EDT
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June 1 (Reuters) - Petrofrontier Corp :

* Petrofrontier Corp says Petrofrontier will pay to Kasten an aggregate of approximately $17.49 million as consideration

* Deal for issuance of 70 million common shares of petrofrontier at a deemed value of $0.157 per share, payment of $3.5 million in cash

* Deal also includes issuance by petrofrontier of a secured debenture in amount of $3 million in favor of kasten

* Petrofrontier corp. Announces major resource property asset acquisition in Alberta Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)