On November 5, 2008, Nextraction Energy Corp. (TSX-V: NE) (formerly Kruger Capital Corp.) announced that it had, through its wholly-owned subsidiary, Nextraction Energy (US) Inc. ("Nextraction US"), successfully completed its previously announced acquisition from Dolar Energy, L.L.C. of an undivided 25% interest in the North Pinedale Project in Wyoming.
Nextraction US will enter into a joint venture with respect to the project, as a non-operator, with Vantage Energy Green River, L.L.C., a United States exploration company with extensive expertise and experience in completing the over pressurized Lance and Mesaverde formations objectives in the project area.
Concurrent with the completion of the acquisition, Nextraction completed a private placement of 4,765,103 units for aggregate gross proceeds to the company of $2,001,343.
In connection with the acquisition, Kruger Capital Corp. changed its name to "Nextraction Energy Corp".
Nextraction was advised in both the asset purchase and private placement by Blair Horn and Benjamin Lee of Fasken Martineau.