TORONTO, ONTARIO--(Marketwired - June 7, 2013) - Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or "the Company") announces that the previously announced sale of its 25% oil and gas participating interest in the Canaguaro Block in the Llanos Basin of Colombia closed today.
Brownstone received gross proceeds of US$6 million in cash from Petrominerales Ltd. for its Canaguaro interest (which may be subject to post-closing adjustments relating to revenues and expenses attributable to pre-closing operations, in accordance with the terms of the sale).
About Brownstone
Brownstone Energy Inc. is a Canadian-based, energy focused company with direct interests in oil and gas exploration projects, including varying interests in three off-shore Israel concessions and in three Colombian blocks in the Llanos basin, as well as other oil and gas interests worldwide. By owning and managing a diversified portfolio of energy-based projects, Brownstone provides shareholders with a unique energy alternative. For additional information, please see Brownstone's website: www.brownstoneenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Jonathan Schroeder, P. Geoph.
President and COO
(403) 660-2894
schroeder@brownstoneenergy.com
Brownstone Energy Inc.
Gerry Feldman
CFO
(416) 941-8900
Feldman@brownstoneenergy.com
Brownstone Energy Inc.
Richard Patricio
Vice-President Corporate and Legal Affairs
(416) 941-8900
info@brownstoneenergy.com
www.brownstoneenergy.com