Terra Energy Corp. (TO: TT) has closed on an additional C $20 million sale of Montney assets to Crew Energy Inc.

Pursuant to an option agreement dated Dec. 3, as amended, Crew elected to exercise its option to purchase additional Montney assets from Terra at an exercise price of C $20 million cash. The resulting sale transaction was successfully completed on Feb. 28.

The company initially closed on the sale of Montney assets to Crew in December 2012, for cash consideration of C $22 million, after adjustments, and included Montney ...