Paleo Resources Inc. announced today that the holders of the Corporation's outstanding 2019 debentures in the aggregate principal amount of CDN$2,682,799 have provided notice to require the Corporation to repurchase all amounts outstanding under the Debentures, in accordance with the terms of such Debentures. The Debentures provide the holders with the right, upon at least 30 days written notice prior to the date that is [...]
Paleo Resources Inc. announces that it has entered into a Common Stock Purchase and License Agreement with Field Genie, Inc. Field Genie, Inc. is a technology service provider that uses advanced artificial intelligence techniques to deliver solutions using spatial/geo intelligence and computer vision, including real-time detection and recognition of objects and patterns. Material terms of the agreement are as follows [...]
Paleo Resources Inc. announced today that, further to its March 10, 2021 news release, it settled outstanding indebtedness in the aggregate amount of US$2,096,618.63 owing to Roger S. Braugh, Jr. , a director and officer of Paleo, and Chris Pettit & Associates PC, controlled by Christopher J. Pettit, a director of Paleo, as trustee of a Trust , through the issuance of an aggregate of 132,474,848 common shares of the [...]
Paleo Resources Inc. announced today that the entire amount of the existing loan from Energy Reserve Capital, LLC to the Corporation's wholly-owned subsidiary, Paleo Resources , Inc. has been assigned to Roger S. Braugh, Jr., a director and officer of Paleo, and Chris Pettit & Associates PC, controlled by Christopher J. Pettit, a director of Paleo, as trustee of a Trust, in the aggregate amount, including principal and [...]
Paleo Resources Inc. announced today that, further to its news release dated December 23, 2019, it has completed the acquisition of EF Resources, Inc. , the owner of the EnergyFunders financial technology platform, subject to final approval of the TSX Venture Exchange. The Acquisition was completed pursuant to the terms of a merger agreement, whereby EFR merged with a US subsidiary of Paleo. Pursuant to the Acquisition [...]
Paleo Resources Inc. announces that, further to its April 29, 2020 news release in relation to the timing of the filing of its year end financial statements, the Corporation announces that it has filed its year end 2019 financial statements, MD&A and reserves data today. The Corporation also announces that due to logistics and delays caused by the COVID-19 pandemic, it is relying on the exemption provided in Alberta [...]
Paleo Resources Inc. announces that due to logistics and delays caused by the COVID-19 pandemic, it is relying on the exemption provided in Alberta Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements of the Alberta Securities Commission to postpone the filing of the following continuous disclosure documents : the Corporation's Annual Audited Financial Statements for the year ended [...]
Paleo Resources Inc. announces that testing operations for the Dorn Prospect well have concluded. The Dorn Prospect well produced non-commercial quantities of gas and water from multiple prospective sandstone sections, and Paleo has decided to plug and abandon the well as a dry hole. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release [...]
Paleo Resources Inc. announced today that it has entered into a definitive Merger Agreement under which Paleo will acquire EF Resources, Inc. , the owner of the EnergyFunders financial technology platform. The transaction has been unanimously approved by the board of directors of both Paleo and EFR. Pursuant to the terms of the Agreement, the transaction is expected to be completed through a merger of EFR and an indirect [...]
Paleo Resources Inc. announced today that it has appointed MaloneBailey, LLP as auditor of Paleo effective December 9, 2019. The resignation of Paleo's former auditor, BDO Canada LLP, was accepted by the Company effective December 9, 2019. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Paleo Resources Inc. is an oil and natural gas [...]
Paleo Resources Inc. is pleased to announce the completion of drilling activities and logging of its Dorn Unit #1 well. Paleo confirms that its Dorn Unit #1 well has been drilled to a total measured depth of 3,269 feet. Data from electronic logs and sidewall cores suggest the well may have encountered three separate gas-bearing reservoirs. The three primary zones of interest are at the following measured depths [...]
Paleo Resources Inc. is pleased to announce that it has spud the Dorn Unit #1 well in its Polk County, Texas JV. The Dorn Unit #1 well will be a vertical well drilled to an approximate depth of 3,250 feet. The well will target an approximate 130 acre Yegua formation prospect. Paleo is participating for a net 24.5% working interest in this prospect. Neither the TSX Venture Exchange nor its Regulation Services Provider [...]
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