Freehold Royalties (TSE:FRU) has released an update.
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Freehold Royalties has announced a significant acquisition of mineral title and royalty interests in the Midland Basin, Texas, for approximately $216 million. This acquisition is expected to enhance Freehold’s portfolio by increasing its drilling acreage by 35% and capturing a larger share of production activity in the region. The deal will be funded through a combination of a $125.1 million equity financing and existing credit facilities.
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