The TSX Venture Exchange has accepted for filing documentation in respect of amalgamation agreement dated Feb. 23, 2024, between an arm's-length party and MCF Energy Ltd. Pursuant to the agreement, the company has agreed to acquire three production licences covering 6,880 acres (27.8 square kilometres) and three exploration licences covering 42,551.5 acres (172.2 square kilometres located in northeast Moravia in the Czech Republic.

As a consideration, the company must issue 17.5 million shares over a period of 12 months and a cash payment of $1,325,000 (U.S.).

Also, the company will pay a finder's fee of 350,000 shares to Fiore Management & Advisory Corp.

For further details, please refer to the company's news release dated Feb. 26, 2024.