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BRIEF-Longreach Oil signs binding term sheet to acquire Starlogik

Published 26/02/2016, 11:51 am
© Reuters.  BRIEF-Longreach Oil signs binding term sheet to acquire Starlogik

Feb 26 (Reuters) - Longreach Oil Ltd LGO.AX :

* Binding term sheet to acquire starlogik LGO.AX

* Acquisition is conditional on lgo raising aud$8 million

* Term sheet to acquire the remaining 95% of starlogik ip llc

* Under deal, existing shareholders obtain 74% increase in aggregate indirect interest in starlogik from 5% to 8.3% without needing to invest further capital

* Source text for Eikon ID:nASX3jNTRp

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