May 10 (Reuters) - MATRRIX Energy Technologies Inc MXX.V :
* TO ACQUIRE OIL AND GAS DRILLING ASSETS FROM RED DOG DRILLING INC.
* PURSUANT TO AGREEMENT, MATRRIX WILL ACQUIRE PURCHASED ASSETS FOR A PURCHASE PRICE OF $5.7 MILLION
* MATRRIX ENERGY TECHNOLOGIES- DEAL TO BE PAID WITH ISSUANCE OF 1.6 MILLION COMMON SHARES OF CO AT $0.45 PER COMMON SHARE AND $5 MILLION IN CASH
* MATRRIX ENERGY TECHNOLOGIES- AGREEMENT WITH RED DOG DRILLING INC PURSUANT TO WHICH CO HAS AGREED TO ACQUIRE ALL OF ASSETS OF RED DOG