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CALGARY AB, Feb. 19, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to announce that it has entered into a definitive agreement for the strategic acquisition of Cardium light oil focused assets in the Pembina area of Alberta (the "Acquired Assets") for consideration of approximately $309 million, prior to adjustments. Consideration will be made up of a $220 million cash payment, $85 million of InPlay common shares (the "Share Consideration") to be issued to the Vendor (as defined below) at a deemed price of $1.55 per share, and the inclusion of InPlay's non-operated assets at Willesden Green Unit 2, with a year-end 2023 Proved Developed Producing ("PDP") value of approximately $4.4 million1 (the "Transaction").
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