Rubellite and Perpetual Merge to Boost Shareholder Value

Perpetual Energy (TSE:PMT) has released an update.

Rubellite Energy Inc. and Perpetual Energy Inc. have announced a strategic recombination in an all-share deal expected to enhance shareholder value through synergies, increased scale, and better capital access. The merged entity, to be named Rubellite Energy Corp., will aim to continue growth in heavy oil exploration and drilling while maintaining a diversified asset portfolio. This move is anticipated to yield $40-$50 million in synergies over four years and significantly improve liquidity with a combined borrowing limit of $140 million.

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