May 11, 2017 / 3:41 PM / 3 months ago

BRIEF-EnerGulf Resources provides corporate updates

May 11 (Reuters) - EnerGulf Resources Inc:

* EnerGulf Resources Inc. corporate update

* Executed a term sheet to acquire an additional 20 percent interest in Selectron Shallow and Canoe Prospects in Gulf of Mexico

* Has executed a term sheet to acquire an additional 20% interest in Selectron Shallow and Canoe Prospects in Gulf of Mexico

* Intends to complete private placement of units for gross proceeds of up to CAD$5 million at post-consolidation price of CAD$0.10 per unit

* Subject to required approvals, EnerGulf will undergo a consolidation of its outstanding securities on a 5 for 1 basis Source text for Eikon: Further company coverage:

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