Saturn Oil & Gas Inc. (TSE:SOIL) has released an update.
Saturn Oil & Gas Inc. successfully completed a significant $100 million financing round through a bought deal offering, issuing over 42 million subscription receipts at $2.35 each. The net proceeds will partially fund the acquisition of two oil-weighted asset packages in Southern Saskatchewan, with the transaction expected to be finalized in the second quarter of 2024. The deal involved participation from insiders and was facilitated by leading financial institutions, with the subscription receipts set to trade on the Toronto Stock Exchange.
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