Freehold Royalties (TSE:FRU) has released an update.
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Freehold Royalties has increased its equity financing to $150 million due to high demand, facilitating the acquisition of mineral and royalty interests in Texas’ Midland Basin. The proceeds are intended to fund the acquisition, which is expected to boost production and revenue in 2025. If the acquisition does not proceed, funds will be used for general corporate purposes.
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