Business
Saturn Oil & Gas Inc. Announces Launch of Inaugural Substantial Issuer Bid
Calgary, Alberta--(Newsfile Corp. - June 11, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces Launch of Inaugural Substantial Issuer BidCalgary, Alberta--(Newsfile Corp. - June 11, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (\"Saturn\" or the \"Company\"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce the launch, as of the date hereof, of our previously announced substantial issuer bid (the \"Offer\") pursuant to which the Company offers to purchase from holders (\"Shareholders\") of common shares of the Company (the \"Shares\") up to 7,000,000 Shares for cancellation at a purchase price of CAD$2.15 per Share (the \"Purchase Price\"), for an aggregate purchase price not exceeding $15,050,000. The Offer commences today and will expire at 5:00 p.m. (Eastern Time) on July 16, 2025, unless extended, varied or withdrawn by the Company (the \"Expiration Date\"). Pursuant to the Offer, tendering Shareholders may elect to tender a specified number of Shares.The Offer is denominated in Canadian dollars, and Shareholders may elect to receive payment in either Canadian or United States dollars. The terms and conditions of the Offer, including instructions for tendering Shares, are included in the formal offer to purchase and issuer bid circular, letter of transmittal, notice of guaranteed delivery and other related documents (the \"Offer Documents\"), which have been sent to registered Shareholders, filed with applicable Canadian securities regulatory authorities, and made available on SEDAR+ at www.sedarplus.ca as well as on our website at www.saturnoil.com. In light of a potential Canada Post workers' strike and the resulting disruption of mail services, the Company may be unable to mail the Offer Documents to beneficial (non-registered) holders. However, upon resumption of normal mail service following any potential disruption, Saturn intends to arrange for the mailing of the Offer Documents to the beneficial holders.Shareholders can retrieve the Offer Documents on www.sedarplus.ca and on Saturn's website at www.saturnoil.com. Copies of the Offer Documents may also be obtained upon written or oral request, without charge, to the Company at our head office at 2800, 525 - 8th Avenue SW, Calgary, Alberta, Canada, T2P 1G1 or by email at [email protected]. As part of Saturn's ongoing ...