Blackdog Resources Ltd. has entered into a definitive reorganization and investment agreement (the "Agreement") with Steven VanSickle, David Summers, Aaron Grandberg, David Cymbalisty, David Pyke, George Ardies and Tom Park (the "Initial Investor Group"), which provides for: (i) a non-brokered private placement for gross proceeds of up to $21.0 million (the "Private Placement"); (ii) the appointment of a new management team (the "New Management Team") and a new board of directors of Blackdog (the "New Board"); and (iii) subject to regulatory approval, a rights offering (the "Rights Offering") to current holders of common shares ("Common Shares") of Blackdog (collectively, the "Transaction").

Completion of the Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange (the "TSXV"). Upon completion of the Transaction, it is anticipated that the shareholders of Blackdog will be asked to approve a change of the Corporation's name to "StonePoint Energy Inc.".

Tags: Blackdog Resources Ltd.