LET Letho Resources Corp

Letho Resources Corp. ("Letho") (TSX VENTURE:LET) is pleased to announce that it
has signed a Letter of Intent ("LOI") with Stream Oil & Gas Ltd. ("Stream")
whereby Letho has agreed to loan Stream up to CAD $5,000,000 (the "Loan"), which
loan will be supported by the issuance of a convertible debenture to Letho.
Subject to TSX Venture Exchange approval and the entry into a definitive
agreement, Letho will advance the loan in two separate tranches, a first tranche
of CAD $2.0 million ("First Loan") and the second tranche of CAD $3.0 million
("Second Loan"), on such dates as set out in the definitive agreement.


Under the terms of the convertible debenture set out in the definitive
agreement, and are expected to include Stream's option to convert the Letho
debenture into common shares of Stream. Stream may also prepay the debenture, in
whole or in part, at any time without notice, bonus or penalty.


About Letho

Letho recently entered into a letter of intent to acquire certain Namibian
Onshore Oil and Gas Licenses (the "Namibian Licenses") from Incan Energy Inc.
("Incan"). Incan currently owns a 35% interest in six Namibian Licenses located
within the Owambo Basin and a 33% interest in one additional Namibian License
located in the Waterberg Basin.


The Namibian Licenses are comprised of six onshore licenses located within the
Owambo Basin of Namibia with a total area of nearly 37,000 km2, and one onshore
license located in the Waterberg Basin with a total area of nearly 10,000 km2.


Although the Owambo Basin is largely unexplored, the opportunity lies therein
that large concession acreage is available for exploration and that there is an
active petroleum system present. Historically, oil was discovered in the Etosha
well 5-1A (Block 1814), and other the hydrocarbon indicators present and
verified in the basin.


The Waterberg Basin is unexplored, but has live gas shows in several shallow
boreholes. The opportunity exist to further exploration and define this smaller
type African Rift Basin in better geological terms, with potentially finding a
deeper and larger gas target that could be exploited for the generation of
electricity. To learn more about us, please visit our website at:
www.lethoresources.com 


ON BEHALF OF THE BOARD OF DIRECTORS OF LETHO RESOURCES INC.

Letho Resources Inc.

Robert Hall, President & CEO

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements
that are based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. Letho cautions that
all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Letho's control. Such factors include, among other things: risks and
uncertainties relating to Letho's ability to complete a private placement
financing to satisfy the terms of the letter of intent. Accordingly, actual and
future events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the forward looking
information. Except as required under applicable securities legislation, Letho
undertakes no obligation to publicly update or revise forward-looking
information.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Letho Resources Inc.
Rob Hall
President, CEO and Director
(604) 999-5554
www.lethoresources.com

Letho Resources (TSXV:LET)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Letho Resources (TSXV:LET)
Historical Stock Chart
Von Jun 2023 bis Jun 2024