RANGEFORD RESOURCES, INC. (OTCMKTS:RGFR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Completion of Acquisition of Assets

Rangeford Resources, Inc. (the “Company”) announced today that its wholly owned subsidiary Cherryvale Kansas, LLC, executed a purchase and sale agreement on December 26, 2016 (“Agreement”) with Dog Day, Inc., a Texas Corporation (“DDI”),headquartered in Nacogdoches Texas for the acquisition of certain oil and gas leases covering approximately 800 gross acres of land located in Labette County, Kansas that includes DDI’s interest in approximately 53 wells that are either currently producing, permitted, proposed, and/or shut-in.

The Company’s own geological and geophysical analysis estimates ultimate recovery of up to two million barrels upon completion of a development plan with a combination of re-completions, drilling new wells and implementing a water flood program. The Company intends to obtain an SEC compliant reserve report by a third-party petroleum engineer for reporting purposes.

Closing of the purchase is scheduled to occur no later than February 15, 2017 to provide DDI time to obtain certain waivers, consents and working interests. Assuming DDI meets all conditions to closing the purchase price will be $5.0 million for 100.0% working interest (80.0% Net Revenue Interest). The purchase price will be paid by issuing 632,912 Company common shares with an agreed value of $500,000 and a note from Cherryvale Kansas, LLC in the amount of $4.5 million. The acquisition price may be reduced by up to approximately 25% if DDI does not deliver required consents, waivers and un-owned working interests.

The note by Cherryvale Kansas, LLC will bear interest at 3% and is secured by the purchased assets. The note is for three (3) years and repaid from 25% of Cherryvale Kansas’ gross revenue (less royalty payments and taxes). If not fully paid by maturity the balance will become due. The seller note is non-resource to Rangeford Resources, Inc. Under the terms of the Agreement, DDI, the seller, retains a 25% working interest after payout, which in summary means once Cherryvale Kansas recovers 125% of the Purchase Price and 125% of the costs of the development plan and well operations.

About RANGEFORD RESOURCES, INC. (OTCMKTS:RGFR)

Rangeford Resources, Inc. is an independent oil and gas company. The Company’s business is to explore, develop, produce and acquire oil and natural gas properties in the Kansas and Texas areas. The Company purchases oil and gas leasehold and wells in the Mid Continent region. The Texas prospect acreage is situated within Harison County, within the East Texas Oil Field. The prospect interest area controls over 4,400 acres of mineral leases near the town of Waskom, Texas, located west of Shreveport, Louisiana. In addition, the overall prospect acreage includes approximately 200 commercial drilling locations. It has an agreement to acquire approximately five well bores and over 3,040 leasehold acres in a region of Kansas. The overall prospect acreage includes various commercial drilling locations. It also has a consulting contract with the engineering firm for oil and gas engineering consulting services. As of June 30, 2015, the Company had no revenues from operations.

RANGEFORD RESOURCES, INC. (OTCMKTS:RGFR) Recent Trading Information

RANGEFORD RESOURCES, INC. (OTCMKTS:RGFR) closed its last trading session 00.000 at 0.586 with 1,915 shares trading hands.