Altura Energy Inc. Announces Update regarding its Previously Announced Brokered Private Placement and Non-Brokered Private Placement and New Meeting Arrangements

About this update from Tenaz Energy Corp

[{"type":"text","content":"\n \n \n \n Altura Energy Inc. Announces Update regarding its Previously Announced Brokered Private Placement and Non-Brokered Private Placement and New Meeting Arrangements\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 /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAW./\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Sept. 21, 2021\n \n /CNW/ - Altura Energy Inc. (\n \n \"Altura\"\n \n or the\n \n \"Company\"\n \n ) (TSXV: ATU) is pleased to announce that its previously announced brokered private placement (the\n \n \"Brokered Private Placement\"\n \n ) of subscription receipts of the Company (\n \n \"Subscription Receipts\"\n \n ) at a price of\n \n $0.18\n \n per Subscription Receipt has been oversubscribed and accordingly, it has received subscriptions for an aggregate of 136,112,000 Subscription Receipts for gross proceeds of\n \n $24.5 million\n \n . Additionally, the Company is pleased to announce it has received commitments with respect to its previously announced non-brokered private placement for the sale of 27,778,000 units of the Company (\n \n \"Units\"\n \n ) at a price of\n \n $0.18\n \n per Unit for gross proceeds of\n \n $5.0 million\n \n (the\n \n \"Non-Brokered Private Placement\"\n \n ). Together, the Brokered Private Placement and Non-Brokered Private Placement, are expected to provide the Company with gross aggregate proceeds of approximately\n \n $29.5 million\n \n .\n \n \n The Brokered Private Placement is being led by National Bank Financial Inc. (\n \n \"NBF\"\n \n ) on behalf of a syndicate of agents. Closing of the Brokered Private Placement will represent the satisfaction of a key condition precedent to the completion of the Company's previously announced change of management transaction as set forth in the reorganization and investment agreement (the\n \n \"Investment Agreement\"\n \n ) dated\n \n August 30, 2021\n \n between the Company and an initial investor group, comprised of\n ...

More updates from Tenaz Energy Corp