Kelt Exploration Ltd. (TSX:KEL) signed a definitive purchase and sell agreement to sell Oil & Gas Properties at Karr Area of Alberta for approximately $100 million on January 4, 2017. The transaction is expected to close on January 18, 2017. As part of transaction Kelt has been provided $10 million that will be held in escrow until closing. William Guinan and Peter Bryan of Borden Ladner Gervais LLP acted as a legal advisor to Kelt Exploration Ltd. in this transaction.