Lycos Energy Inc. (TSXV:LCX) entered into a definitive agreement to acquire 100% stake in Wyatt Resources Ltd. for CAD 8.8 million on August 24, 2023. The total consideration of CAD 8.8 million, consisting of CAD 6.5 million in cash and CAD 2.3 million of equity comprised of 5.1 million pre-Consolidation Lycos Shares at a deemed price of CAD 0.4523 per Lycos Share. All of the Lycos Shares issued to the shareholders of Wyatt will be subject to a four-month escrow period. The Acquisition will be funded by the Company's credit facilities and cash on hand. The Acquisition is expected to close on September 1, 2023, subject to certain customary conditions and approvals, including the approval of the TSX Venture Exchange

Lycos Energy Inc. (TSXV:LCX) completed the acquisition of 100% stake in Wyatt Resources Ltd. for CAD 8.8 million on September 1, 2023.