ROK Resources Inc. (TSXV:ROK) entered into an agreement to acquire Certain Oil & Gas Assets in Southeast Saskatchewan from Whitecap Resources Inc. (TSX:WCP) for CAD 23 million on December 16, 2022. The total consideration, before adjustments, for the acquisition is approximately CAD 26.5 million. In connection with the Acquisition, ROK expects to enter into a commitment letter (the ?Commitment Letter?) with respect to a senior secured loan facility with a Canadian Chartered Bank for an aggregate principal amount of CAD 75 million (the ?Senior Loan Facility?). The Senior Loan Facility is expected to be comprised of: (i) line of credit in the amount of CAD 22.5 million (the ?Line of Credit?), and (ii) a term loan in the amount of CAD 52.5 million (the ?Term Loan?).The acquisition is subject to certain customary conditions and regulatory and other approvals, including all necessary approvals of the TSXV Exchange. The transaction is expected to close on or about January 24, 2023. The Acquisition is accretive to ROK shareholders on key per share measures, adds high quality drilling and exploration inventory and consolidates our core focus operating area within Southeast Saskatchewan. McDougall Gauley acted as legal advisor to ROK Resources Inc, Peters & Co., Limited acted as financial advisor to Whitecap Resources Inc. (TSX:WCP)

ROK Resources Inc. (TSXV:ROK) completed the acquisition of Certain Oil & Gas Assets in Southeast Saskatchewan from Whitecap Resources Inc. (TSX:WCP) on January 24, 2023.