04:20 PM EST - PetroGlobe Inc. : said it signed a letter of intent or LOI to sell its subsidiary PetroGlobe Ltd. for cash proceeds of approximately $350 thousand. The sale of PetroGlobe Ltd. will be effective October 1. The transaction expected to close on October 17. The company intends to use the cash proceeds to fund the corporation's petroleum and natural gas exploration and production activities in Canada and the United States. PetroGlobe Inc.
shares V.PBG are trading down $1.06 at $21.92.
