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Shoreline Energy Boosts Reserves, Production, Reserves through Acquisition of 3 Private Companies; Shares Up 1%

Shoreline Energy Corporation (SEQ.TO) is now up by 1%, but has not moved away from this morning's $8.10 open.

Today the company announced that its acquisition of private companies Lakeridge Energy Corp., Shoreline Acquisition Corp, and Shoreline Oil & Gas Ltd. has been completed for aggregate consideration of $20.9 million. The company said these strategic acquisitions are in alignment with its business plan to increase its land holdings, production, reserves, and cash flow in the existing Peace River Arch operating area.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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