December 22, 2016 / 1:19 PM / in a year

BRIEF-Point Loma Resources to acquire a private oil and gas co

Dec 22 (Reuters) - Point Loma Resources Ltd

* Deal for consideration of 1.250 million common shares of point loma

* Acquisition is anticipated to close in january 2017

* Point Loma Resources Ltd - in a separate transaction, point loma has cancelled previous senior secured convertible debenture maturing on June 28, 2021

* Point Loma Resources Ltd - deal for purchase price of cdn. $500,000 paid with issuance of 1.25 common shares of point loma

* Point Loma Resources - cancellation of convertible debenture, issuance of new convertible debentures is result of sale by madalena to 2 independent parties

* Point Loma Resources - as result of the sale, principal amount owing by corporation under new convertible debentures has been reduced by cdn. $500,000

* Point Loma Resources announces agreement to acquire a private oil and gas company Source text for Eikon: Further company coverage:

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