Fortem Resources Inc. announced that the company has entered into an asset purchase agreement with a major Canadian oil and gas company to purchase a 100% working interest in three Oil Leases covering a total of 20,719 hectares (51,200 acres) of heavy oil in north central Alberta. The rights to the Oil Leases, cover heavy oil of 1216 API located near the top of the Viking formation to the base of the Woodbend Group. The acquisition of the Oil Leases compliments the Company’s existing land holdings of 12,800 acres directly adjacent to and to the south of the Oil Leases. Upon completion of the Transaction, the Company will own over 62,000 acres of which 48,000 is contiguous land containing extensive heavy oil deposits within the main producing horizon, the Wabiskaw formation, along with a secondary horizon, namely the McMurray formation. As consideration for the Oil Leases, the Company has agreed to pay a purchase price of $3,000,000 plus applicable GST (the ‘Purchase Price’), $200,000 of which was paid as an initial deposit upon the execution of the Agreement. The closing of the Transaction is November 15, 2018 with an option to extend 60 days upon payment of an additional deposit of $100,000. The Company anticipates that the transaction will constitute an Exempt Acquisition in accordance with the policies of the TSX Venture Exchange. The Agreement was entered into on September 26, 2018 but is effective as of August 1, 2018. In addition to the Oil Leases, the Company will also obtain all rights, titles and interests to certain wells and facilities (as set out in the Agreement) located on the Oil Leases. The expire dates for the three Oil Leases are as follows; September 29, 2028, January 26, 2029, and March 09, 2029.