Business
New Stratus Energy Announces Pricing and Upsizing of Previously Announced Concurrent Offerings
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from New Stratus Energy Inc
[{"type":"text","content":"New Stratus Energy Announces Pricing and Upsizing of Previously Announced Concurrent Offerings\n\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n CALGARY, Alberta, March 31, 2025 (GLOBE NEWSWIRE) -- New Stratus Energy Inc. (TSX.V - NSE) (“New Stratus”, “NSE” or the “Corporation”) is pleased to announce that it has priced and increased the size of its previously announced brokered private placement offering of (i) subscription receipts (the “Subscription Receipts” and the “Subscription Receipt Offering”) and (ii) common shares (the “Common Shares” and the “Common Share Offering”, and together with the Subscription Receipt Offering, the “Concurrent Offerings”).\n \n\n The Concurrent Offerings are being co-led by Ventum Financial Corp. (“Ventum”) and Cormark Securities Inc. (“Cormark” and together with Ventum, the “Lead Agents”) on their own behalf, and in respect of the Subscription Receipt Offering, on behalf of a syndicate of agents (the “Agents”).\n \n\n Pursuant to the Concurrent Offerings, New Stratus intends to issue (i) 572,000,000 Subscription Receipts at a price of C$0.30 per Subscription Receipt (the “Offering Price”) for gross proceeds of up to approximately US$120.0 million (C$171.6 million); and (ii) 33,385,400 Common Shares at the Offering Price per Common Share for gross proceeds of up to approximately US$7.0 million (C$10.0 million). As a result of the upsized Concurrent Offerings, New Stratus does not expect to require any additional subordinate or convertible debt financing.\n \n\n The Concurrent Offerings are expected to close on or about April 10, 2025, subject to TSXV approval and other customary closing conditions.\n \n\n In all other respects, the terms of the Concurrent Offerings and use of proceeds therefrom will remain as previously announced.\n \n\n\n Contact Information\n \n\n\n Jose Francisco Arata\n \n Chairman & Chief Executive Officer\n \n [email protected]\n \n\n Wade Felesky\n \n President & Director\n \n [email protected]\n \n\n Mario Miranda\n \n Chief Financial Officer\n \n\n [email protected]\n \n – (647) ...