Verona Development Corp. (TSX VENTURE:VDC.H) ("Verona" or "the Company") has
completed the sale of its 60% working interest in two oil and natural gas leases
in the Gainsborough South area of Saskatchewan to Canadian Natural Resources
("CNR") for total consideration of $671,953. 


The Company received a $75,000 cash payment on Closing. The balance of the
purchase price was satisfied by way of set-off of $596,953.16 claimed by CNR for
dewatering and effluent treatment charges. The sale transaction has settled the
litigation commenced by CNR against the Company. The background to the
litigation and the agreement is described in the Company's March 1, 2013 and
April 4, 2013 news releases. 


On Behalf of the Board of Directors

VERONA DEVELOPMENT CORP.

Gurminder Sangha, Director

FOR FURTHER INFORMATION PLEASE CONTACT: 
Verona Development Corp.
(604) 681-4653
(604) 568-4902 (FAX)
www.veronadevelopment.com
(TSXV:VDC.H)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Charts.
(TSXV:VDC.H)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Charts.