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BRIEF-CROWN POINT AGREES WITH SELLERS TO BUY ALL SHARES OF APCO AUSTRAL
November 22, 2017 / 1:45 PM / in 21 days

BRIEF-CROWN POINT AGREES WITH SELLERS TO BUY ALL SHARES OF APCO AUSTRAL

Nov 22 (Reuters) - Crown Point Energy Inc:

* CROWN POINT ANNOUNCES STRATEGIC ACQUISITION TO DOUBLE INTEREST IN EXPLOITATION CONCESSIONS IN TIERRA DEL FUEGO, ARGENTINA

* CROWN POINT ENERGY INC - ‍PURCHASE PRICE PAYABLE BY CROWN POINT TO SELLERS IS US$28.4 MILLION CASH​

* CROWN POINT ENERGY INC - ‍ ENTERED AGREEMENTS WITH APCO OIL AND GAS INTERNATIONAL, APCO ARGENTINA S.A. TO ACQUIRE ALL SHARES OF APCO AUSTRAL S.A.​

* CROWN POINT ENERGY INC - ‍IN DISCUSSIONS WITH AN ARM‘S LENGTH FINANCIAL INSTITUTION BASED IN ARGENTINA REGARDING OBTAINING A LOAN OF UP TO US$25 MILLION​

* CROWN POINT ENERGY-EXPECTS FUNDING PURCHASE PRICE OF DEAL USING EXISTING CASH RESOURCES,OPERATING CASH FLOWS, EQUITY FINANCING & NEW DEBT FINANCING ​

* CROWN POINT-LIMINAR ENERGÍA S.A. , OWNER OF ABOUT 51% OF CO‘S ISSUED AND OUTSTANDING SHARES, HAS AGREED TO GUARANTEE PAYMENT OBLIGATIONS UNDER DEALS​ Source text for Eikon: Further company coverage:

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