04:17 PM EDT, 10/01/2025 (MT Newswires) -- Crown Point Energy ( CWVLF ) announced late Wednesday afternoon that its wholly-owned subsidiary, Crown Point Energia S.A., has closed the prior announced acquisition from Pampa of a 35.6706% interest in the El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions and certain related infrastructure.

A statement noted that Crown Point paid US$0.3 million to a third party to acquire the right to purchase Pampa's participating interest in the Chubut Concessions and also paid US$2.0 million to Pampa, subject to customary closing adjustments. Following closing, contingent consideration of up to US$3.5 million is payable to Pampa.

Crown Point said the acquisition of an additional 59.32947% interest in the Chubut Concessions is scheduled to close later in the fourth quarter. It added completion of these acquisitions remains subject to, among other things, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and the satisfaction of other customary closing conditions. The company is currently in the process of arranging the necessary financing to fund the purchase price for these acquisitions.

Shares in CWV were unchanged at $0.14 in Canada today.