InPlay Oil Corp. Secures $32.8 Million for Strategic Acquisition

InPlay Oil Corp. ( (TSE:IPO) ) has provided an announcement.

InPlay Oil Corp. has successfully closed a $32.8 million bought deal offering of subscription receipts, which will be used to partially fund its acquisition of Pembina Cardium assets valued at $309.9 million. This strategic move is expected to bolster InPlay’s asset portfolio and potentially enhance shareholder value, with implications for dividend payments depending on the transaction’s completion timeline.

More about InPlay Oil Corp.

InPlay Oil Corp. operates in the energy sector, focusing on the exploration and production of oil and natural gas. The company is primarily involved in the development of oil and gas properties, with a market focus on enhancing production and reserves through strategic acquisitions.

YTD Price Performance: -4.12%

Average Trading Volume: 118,144

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$146.9M

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