- Tamarack Valley Energy Ltd. (TVE) has closed a bought-deal financing for gross proceeds of approximately $125 million
- The company issued 33.3 million common shares at a price of $3.75 per common share, and the over-allotment option was exercised in full
- The over-allotment added a further five million common shares and additional gross proceeds of approximately $19 million
- Proceeds will be used to partially fund the acquisition of Deltastream Energy Corporation
- Tamarack Valley Energy Ltd. (TVE) is up 3.34 per cent and is trading at $3.40 per share as of 2:16 p.m. ET
Tamarack Valley Energy Ltd. (TVE) has closed its previously announced bought-deal financing for gross proceeds of approximately $144 million.
The company issued 33.3 million of its common shares at a price of $3.75 per common share, and the over-allotment option was exercised in full.
The full exercise of the over-allotment option added a further five million common shares and additional gross proceeds of approximately $19 million.
Net proceeds will be used to partially fund the acquisition of Deltastream Energy Corporation.
Tamarack is an oil and gas exploration and production company committed to creating long-term value for its shareholders through sustainable free funds flow generation, financial stability, and the return of capital.
The company stated it has an extensive inventory of low-risk oil development drilling locations focused primarily on Charlie Lake, Clearwater, and enhanced oil recovery plays in Alberta.
Tamarack Valley Energy Ltd. (TVE) is up 3.34 per cent and is trading at $3.40 per share as of 2:16 p.m. ET.