Cardinal Energy (TSE:CJ) has released an update.
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Cardinal Energy Ltd. has announced a $50 million bought deal offering involving senior subordinated unsecured debentures and common share purchase warrants. The proceeds will be used to repay debt, complete the Reford thermal project, and support future projects and corporate purposes. The offering is set to close around January 3, 2025, with the debentures bearing an annual interest rate of 7.75%.
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