Rangeford Resources, Inc. (OTCPK:RGFR) executed a purchase and sale agreement to acquire oil and gas leases covering 800 acres land in Labette County, Kansas from Dog Day, Inc. for $4.9 million on December 26, 2016. Under the terms of the transaction, Rangeford Resources will issue its 0.63 million shares and will issue a note in the amount of $4.5 million. The acquisition price may be reduced by up to approximately 25% if Dog Day does not deliver required consents, waivers and un-owned working interests. The transaction is expected to close no later than February 15, 2017.