An unknown buyer signed a letter agreement to acquire 25% stake in undeveloped mineral rights in Faust Area of Alberta from Caiterra International Energy Corporation (TSXV:CTI) for CAD 1 million in cash on January 25, 2013. An unknown buyer signed an asset purchase agreement to acquire 25% stake in undeveloped mineral rights in Faust Area of Alberta from Caiterra International Energy Corporation (TSXV:CTI) on February 1, 2013. The buyer also has an option to purchase an additional 25% stake in Faust Property in consideration for an additional cash payment of CAD 1 million.

The buyer has provided CaiTerra with the sum of CAD 0.2 million as a good faith, non-refundable deposit. The transaction is subject to completion of due diligence on the Faust Property, all Director, shareholder, securities and regulatory approvals and acceptances and all third party consents and the approval of the TSX Venture Exchange. Buyer and Caiterra have agreed to enter into a definitive agreement and any other ancillary documents in respect of the transaction on or before February 1, 2013.