Questerre Energy Corporation plans to consolidate all common equity interest in Red Leaf Resources, Inc. through an exchange of Red Leaf common shares for Questerre Common Shares. Red Leaf’s assets include patented HCCO® technology, mineral leases in Utah, a wax processing facility permit, and over 7,000 acres in the Uintah Basin, valued at US$43 million. Shareholders holding 40% of Red Leaf’s common shares have agreed to the exchange. Questerre will issue up to 20 million Common Shares valued at $0.31 each to acquire Red Leaf. The transaction is expected to close by the end of the month.

Questerre Energy Corporation is focusing on consolidating ownership of Red Leaf Resources, Inc. through an exchange of shares, valued at US$43 million. Shareholders holding 40% of Red Leaf’s common shares have agreed to the exchange. Questerre will issue up to 20 million Common Shares valued at $0.31 each to acquire Red Leaf. The transaction is expected to close by the end of the month.

Read more at GlobeNewswire: Questerre to acquire remaining interest in Red Leaf