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Stampede Drilling Announces Acquisition of Drilling Rigs and Related Assets and a $22,500,160 to $25,000,000 Million Equity Financing
Stampede Drilling Announces Acquisition of Drilling Rigs and Related Assets and a $22,500...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n \n \n \n Stampede Drilling Announces Acquisition of Drilling Rigs and Related Assets and a $22,500,160 to $25,000,000 Million Equity Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 3, 2022\n \n \n /CNW/ - STAMPEDE DRILLING INC. (TSXV: SDI) (\"\n \n Stampede\n \n \", or the \"\n \n Corporation\n \n \") is pleased to announce it has entered into a purchase and sale agreement (the \"\n \n Agreement\n \n \") to acquire six drilling rigs and related assets (the \"\n \n Acquisition\n \n \") from a private company (the \"\n \n Vendor\n \n \") for total cash consideration of approximately\n \n $21\n \n .5 million (the \"\n \n Purchase Price\n \n \"). The Purchase Price will be funded by proceeds from a concurrent short form prospectus offering of common shares (\"\n \n Offered Shares\n \n \") at a price of\n \n $0.32\n \n per Offered Share (the \"\n \n Offering Price\n \n \") for minimum gross proceeds of\n \n $22.5 million\n \n and maximum gross proceeds of\n \n $25 million\n \n (the \"\n \n Offering\n \n \"). The Acquisition and the Offering are expected to close on\n \n August 23, 2022\n \n , or such other date as may be agreed upon between the parties as described herein.\n \n \n \n \"The Acquisition will add six high quality drilling rigs that are well suited to work in several of the most active oil and gas plays in western\n \n Canada\n \n , furthering our goal to provide the safest and most efficient drilling services provider in\n \n Canada\n \n \" stated\n \n Lyle Whitmarsh\n \n , President & Chief Executive Officer of Stampede.\n \n \n \n \n \n Acquisition Highlights\n \n \n \n \n \n Larger and more diverse fleet –\n \n increased fleet size and breadth of operations, allowing Stampede to better service its customers and capitalize on opportunities;\n \n \n \n Significant cash flow generation –\n \n potential...