Business
Paramount Resources Announces the Disposition of a Portion of its Investment in the Common Shares of NuVista Energy Ltd. and Provides an Operations Update
Paramount Resources Announces the Disposition of a Portion of its Investment in the Common Shares...
About this update from Paramount Resources Ltd. Class A
[{"type":"text","content":"\n\n\n\n Paramount Resources Announces the Disposition of a Portion of its Investment in the Common Shares of NuVista Energy Ltd. and Provides an Operations Update\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n This press release is being issued pursuant to section 5.2 of National Instrument 62-104 -Take-Over Bids and Issuer Bids.\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 22, 2025\n \n\n /CNW/ - Paramount Resources Ltd. (\"Paramount\" or the \"Company\") (TSX: POU) announces that it has sold 18,500,000 common shares (\"NuVista Shares\") of NuVista Energy Ltd. (\"NuVista\") on\n \n September 21, 2025\n \n by means of private agreement (the \"Transaction\"), with closing to occur on\n \n October 1, 2025\n \n . Paramount is receiving\n \n $16.00\n \n per NuVista Share pursuant to the Transaction for aggregate cash consideration of\n \n $296,000,000\n \n . The Company is also providing an operations update.\n \n\n\n DISPOSITION OF SHARES\n \n\n\n The NuVista Shares that Paramount is disposing of pursuant to the Transaction represent 9.50% of the 194,663,181 NuVista Shares reported by the TSX to be outstanding as of\n \n September 21, 2025\n \n . Prior to the Transaction, Paramount had direct ownership and control of 31,252,142 NuVista Shares, representing 16.05% of the outstanding NuVista Shares. Following the Transaction, Paramount will have direct ownership and control over 12,752,142 NuVista Shares, representing 6.55% of the outstanding NuVista Shares.\n \n\n The purpose of the Transaction is to monetize a portion of Paramount's investment in NuVista Shares.\n \n\n Depending on various factors including, without limitation, NuVista's financial condition, business, operations and prospects, the prevailing market price of the NuVista Shares, conditions in the securities markets, general economic and industry conditions, the terms and conditions applicable to any potential transaction and such other factors that Paramount may deem relevant, Paramount may, subject to applicable laws and regulatory requirements:\n \n\n\n ...