Lateral Capital Corp. (TSXV:LCP) entered into a binding agreement to acquire Vector Exploration Corp. from Christopher Barton, Craig Boland, Barbara Swanson, Murray Swanson and others for CAD 2.1 million on February 15, 2014. Lateral will acquire all of the issued and outstanding shares of Vector Exploration for an aggregate purchase price comprised of cash in the amount of CAD 0.75 million and the issuance of an aggregate of 22.2 million common shares in the capital of the Lateral Capital at a price of CAD 0.18 per share. Lateral Capital Corp. is proposing to issue and sell on a private placement basis up to 8.3 million units. Lateral intends to use proceeds of the private placement for working capital purposes and to fund the acquisition of Vector Exploration Corp. Closing of the acquisition is subject to conditions customary for transactions of this nature including acceptance by the TSX Venture Exchange. As on May 1, 2014, Vector deferred the payment of the CAD 0.13 million non-refundable deposit until closing of the transaction which is expected to occur in the second quarter of 2014. Cameron MacCarthy of Shea Nerland Calnan LLP acted as legal advisor to Vector Exploration and the sellers. Jamie Gagner of Norton Rose Fulbright Canada LLP acted as legal advisor to Lateral Capital.

Lateral Capital Corp. (TSXV:LCP) completed the acquisition of Vector Exploration Corp. from Christopher Barton, Craig Boland, Barbara Swanson, Murray Swanson and others for CAD 2 million in cash and stock on June 5, 2014. As consideration, Lateral Capital paid CAD 0.75 million in cash and issued its 15.42 million common shares. Vector and the shareholders of Vector waived Lateral's obligations under the agreement in respect to the payment of a non-refundable deposit of approximately CAD 0.13 million and a work commitment amount of approximately CAD 0.27 million payable on or before March 7, 2014. In addition, the condition of the agreement requiring Lateral to complete a subsequent financing of more than CAD 30 million of debt or CAD 45 million of equity has been waived by Vector and the shareholders of Vector.