Altima Resources Ltd. (TSXV:ARH) entered into an agreement to acquire oil, gas and processing assets in the province of Alberta for CAD 0.79 million during September 2019. The consideration for the acquisition will be paid in cash. The acquisition comprises of a number of non-operated working interests and non-operated facility interests with third party processing revenues. In early October 2019, the Altima Resources paid a non-refundable deposit of CAD 0.14 million to the vendor. As at November 30, 2019, Altima Resources has not paid the balance required for closing and is continuing to negotiate the terms of the agreement with the vendor. As at November 30, 2019, due to the status of the agreement, the Altima Resources has recorded an impairment of the acquisition deposit paid. Closing is scheduled for October 2019. Altima Resources Ltd. (TSXV:ARH) cancelled the acquisition of acquire oil, gas and processing assets in the province of Alberta on September 30, 2020.