WAVEFIRE.COM INC.
Wavefire.com Inc. Announces Agreement for the Acquisition of Assets
December 2, 2010 –Calgary, Alberta: pleased to announce that it has entered into a purchase and sale agreement dated “Agreement”) with Sand Hills Energy Inc. (“acquire, subject to regulatory approval, including all of Sand Hills oil and natural gas Sand Hills is a private corporation incorporated under the provisions of the (Alberta) with its registered and head office in Calgary, Alberta. Sand Hills is wholly owned by Mr. Victor Redekop, who is also the Chairman, a director and a controlling shareholder of the Corporation. Description of the Assets The Corporation intends to acquire from Sand Hills in Central Alberta, geological data and com Hills commenced drilling a well on by the Corporation.
The Proposed Acquisition
Subject to the prior approval of the TSX Ventur regulatory approvals, as well as shareholder, director or other approval that may be required, the Corporation will acquire the Assets from Sand Hills at a purchase price of $ Price”).The Purchase Price will be paid in full by the issuance of a promissory note by the Corporation to Sand Hills in the amount of the Purchase Price. The and is due and payable together with the accrued intere Information Regarding the Corporation The Corporation is an emerging production of oil and natural gas reserves in Western Canada. The Corporation currently has the right under a farm- in agreement to earn between an 85% the Acadia Area, Alberta. The Co “WAF”.
For further information please contact: Wavefire.com Inc.
Victor Redekop, Chairman (403) 541-5310 WAVEFIRE.COM INC.
PRESS RELEASE
Wavefire.com Inc. Announces Agreement for the Acquisition of Assets
Calgary, Alberta: Wavefire.com Inc. (the “Corporation pleased to announce that it has entered into a purchase and sale agreement dated”) with Sand Hills Energy Inc. (“Sand Hills ”), whereby the Corporation has agreed to subject to regulatory approval, substantially all of the assets (the “Assets” including all of Sand Hills oil and natural gas interests (the “Acquisition”).
Sand Hills is a private corporation incorporated under the provisions of the Business Corporations Act (Alberta) with its registered and head office in Calgary, Alberta. Sand Hills is wholly owned by Mr. is also the Chairman, a director and a controlling shareholder of the Corporation. acquire from Sand Hills approximately 10,240 acres of crown leases located data and com puter and office equipment. On November 29, 2010 Hills commenced drilling a well on one of these lands, the drilling expenditures of Subject to the prior approval of the TSX Ventur e Exchange Inc. (the “Exchange regulatory approvals, as well as shareholder, director or other approval that may be required, the Corporation will acquire the Assets from Sand Hills at a purchase price of $ 2,6 The Purchase Price will be paid in full by the issuance of a promissory note by the Corporation in the amount of the Purchase Price. The promissory note bears interest at prime plus 3% and is due and payable together with the accrued interest thereon on December 31, 2012. rmation Regarding the Corporation oil and gas company engaged in the exploration for and development and production of oil and natural gas reserves in Western Canada. The Corporation currently has the right in agreement to earn between an 85% to 100% interest in certain oil a the Acadia Area, Alberta. The Co rporation’scommon shares trade on the Exchange under the symbol For further information please contact:
800, 906 12 Avenue SW
Calgary, Alberta T2R 1K7 Phone (403) 244-5340 Fax (403) 245-5156 Wavefire.com Inc. Announces Agreement for the Acquisition of Assets Corporation”) (TSXV: “WAF”) is pleased to announce that it has entered into a purchase and sale agreement dated December 2, 2010 (the”), whereby the Corporation has agreed to “Assets”) of Sand Hills, Business Corporations Act (Alberta) with its registered and head office in Calgary, Alberta. Sand Hills is wholly owned by Mr. is also the Chairman, a director and a controlling shareholder of the Corporation. acres of crown leases located On November 29, 2010 Sand drilling expenditures of which will be assumed Exchange”) and any other regulatory approvals, as well as shareholder, director or other approval that may be required, the 2,689,000 (the “Purchase The Purchase Price will be paid in full by the issuance of a promissory note by the Corporation promissory note bears interest at prime plus 3% st thereon on December 31, 2012.
oil and gas company engaged in the exploration for and development and production of oil and natural gas reserves in Western Canada. The Corporation currently has the right 100% interest in certain oil a nd gas properties in common shares trade on the Exchange under the symbol Cautionary statements This news release contains “forward-looking statements” within the meaning of applicable securities laws relating to the proposal to complete the Acquisition, including statements regarding the timing of the Acquisition and receipt of regulatory approvals. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that regulatory approval will not be obtained in a timely manner or at all. The statements in this news release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation, the Acquisition, the Assets or the Corporation or Sand Hills respective financial or operating results or (as applicable), their securities. Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Proposed Acquisition and associated transactions and has neither approved nor disapproved of the contents of this press release.
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