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BRIEF-EnerGulf Resources provides corporate updates

Published 2017-05-11, 11:37 a/m
© Reuters.  BRIEF-EnerGulf Resources provides corporate updates
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May 11 (Reuters) - EnerGulf Resources Inc ENG.V :

* EnerGulf Resources Inc. corporate update

* Executed a term sheet to acquire an additional 20 percent interest in Selectron Shallow and Canoe Prospects in Gulf of Mexico

* Has executed a term sheet to acquire an additional 20% interest in Selectron Shallow and Canoe Prospects in Gulf of Mexico

* Intends to complete private placement of units for gross proceeds of up to CAD$5 million at post-consolidation price of CAD$0.10 per unit

* Subject to required approvals, EnerGulf will undergo a consolidation of its outstanding securities on a 5 for 1 basis Source text for Eikon: Further company coverage: ENG.V

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