Legacy Oil + Gas Inc. has closed the acquisition of Villanova Oil Corp. (Villanova) and the acquisition of light oil assets from a senior producer previously announced on April 3, 2013 (the "Acquisitions").

Through the Acquisitions, Legacy acquired high quality, high netback, light oil assets focused in its southeast Saskatchewan and Turner Valley core areas for total consideration of $108.6 million in cash (subject to certain adjustments and including assumed net debt) and 13.9 million Legacy common shares.

The producing properties are predominantly operated with high working interests, 3D seismic coverage and control of key producing infrastructure and are associated with a light oil prospective undeveloped land base. The Acquisitions also add several key sections of land in Legacy's Taylorton and Pinto core areas.

Tags: Legacy Oil + Gas Inc.