April 27 (Reuters) - AKITA Drilling Ltd ( AKTAF ):

* AKITA ANNOUNCES TRANSFORMATIVE ACQUISITION OF FOX DRILLING

AND ELIMINATION OF DUAL CLASS SHARE STRUCTURE

* AKITA DRILLING LTD ( AKTAF ) - TO BUY ALL OF PARAMOUNT RESOURCES

INTERESTS IN FOX DRILLING

* AKITA DRILLING LTD ( AKTAF ) - PARAMOUNT RESOURCES' SHAREHOLDERS TO

HOLD ABOUT 33% OF AKITA COMMON SHARES POST-DEAL

* AKITA DRILLING LTD ( AKTAF ) - TO ISSUE 19.3 MILLION COMMON SHARES

FOR ACQUISITION

* AKITA DRILLING LTD ( AKTAF ) - PARAMOUNT RESOURCES TO UTILIZE AKITA

RIGS FOR 2,700 RIG DAYS OVER THREE YEARS

* AKITA DRILLING LTD ( AKTAF ) - JAMES RIDDELL AND JACKSON RIDDELL

EXPECTED TO JOIN AKITA BOARD; THREE DIRECTORS TO STEP DOWN

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