Red Dog Drilling Sold To Matrrix Energy | OutPut by Rig Lynx

* TO ACQUIRE OIL AND GAS DRILLING ASSETS FROM RED DOG DRILLING INC.

* PURSUANT TO AGREEMENT, MATRRIX WILL ACQUIRE PURCHASED ASSETS FOR A PURCHASE PRICE OF $5.7 MILLION

* MATRRIX ENERGY TECHNOLOGIES- DEAL TO BE PAID WITH ISSUANCE OF 1.6 MILLION COMMON SHARES OF CO AT $0.45 PER COMMON SHARE AND $5 MILLION IN CASH

* MATRRIX ENERGY TECHNOLOGIES- AGREEMENT WITH RED DOG DRILLING INC PURSUANT TO WHICH CO HAS AGREED TO ACQUIRE ALL OF ASSETS OF RED DOG

Reuters

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