Canadian Spirit Resources Sells Montney Lands

Canadian Spirit Resources (TSE:SPI) has released an update.

Canadian Spirit Resources Inc. has finalized a deal to sell its Montney lands in Northeastern British Columbia for $5 million, with the effective sale date of March 1, 2024, and the closing date of June 25, 2024. This move, part of a strategic review by Sayer Energy Advisors, opens possibilities for future capital development, sales, mergers, or joint ventures to enhance shareholder value. The sold acreage comprises about 10,350 net acres with no current production or reserves.

For further insights into TSE:SPI stock, check out TipRanks’ Stock Analysis page.