Cub Energy Inc. Executes Agreement to Increase Ownership Interest in KUBGAS Up to 40% in Return for Revocation of Right of First Refusal Notice

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Home : Cub Energy Inc. Executes Agreement to Increase Ownership Interest in KUBGAS Up to 40% in Return for Revocation of Right of First Refusal Notice

Feb 02 2016	Cub Energy Inc. Executes Agreement to Increase Ownership Interest in KUBGAS Up to 40% in Return for Revocation of Right of First Refusal Notice
HOUSTON, TEXAS--(Marketwired - Feb. 1, 2016) - Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB) announces that pursuant to a letter agreement between the Company's wholly-owned subsidiary, Gastek LLC ("Gastek"), and Resano Trading Ltd ("Resano"), Gastek has revoked its notice to exercise its right of first refusal announced on January 6, 2016, to purchase the remaining 70% of KUBGAS Holdings Limited ("KUBGAS") held by Serinus Energy Inc. Cub, through Gastek, currently holds the other 30% of KUBGAS. In return for the revocation notice, Gastek can earn up to an additional 10% ownership interest in KUBGAS as follows:


Source:http://www.marketwired.com/mw/release.do?id=2092657&sourceType=3

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