Reef Announces Termination of Asset Purchase Agreement with Levant Exploration and Production Corp.

Calgary, Alberta--(Newsfile Corp. - March 1, 2021) - Reef Resources Ltd. ("Reef") announces that the Asset Purchase Agreement effective July 8, 2020 (the "Agreement") with Levant Exploration and Production Corp. ("Levant") and Scirocco Energy PLC (formerly Solo Oil PLC) ("Sirocco") for the sale by Reef and Sirocco of their respective interests in non-producing oil and gas assets located in Huron County, Ontario (the "Proposed Transaction") has been terminated.

The Agreement provided that it could be terminated in the event that the Proposed Transaction did not close by November 1, 2020. As the Proposed Transaction did not close by November 1, 2020, Reef has terminated the Agreement.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Arnold W Hansen
President, Chief Executive Officer and Director
(403) 251-9447

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75783

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