09:36 AM EDT, 03/25/2024 (MT Newswires) -- Birchtree Investments Ltd. (CSE: BRCH), an investment company with the long-term goal of divesting its investment assets at a profit, over the weekend announced a new investment into Valkyrie Specialty Corporation, a Texas based provider of well remediation and restimulation services to help oil and gas companies recover remaining assets, remove previously deployed toxic chemistries, and remediate fields for future use.

Pursuant to a share exchange agreement dated March 23, 2024, Birchtree has agreed to issue the parent company of Valkyrie Specialty, a private British Columbia company, 5 million common shares of Birchtree at a deemed price of $0.115 per share, in exchange for 425,926 common shares of Valkyrie Holdco at a deemed price of $1.35 per share. As conditions to closing, scheduled for March 29, 2024, Birchtree will subscribe for an additional 370,000 common shares of Valkyrie Holdco at a price of $1.35 per share for gross proceeds of $499,500, and Valkyrie Holdco will grant Birchtree the right to appoint a director of Valkyrie Holdco for as long as Birchtree owns or controls at least 500,000 of the issued and outstanding shares of Valkyrie Holdco (subject to adjustment pursuant to customary corporate actions, if applicable).

Subsequent to the transactions contemplated by the SEA, Birchtree will hold, on a non-diluted basis, 30.6% of the issued and outstanding shares of Valkyrie Holdco, and Valkyrie Holdco will hold, on a non-diluted basis, 6.0% of the issued and outstanding shares of Birchtree.

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