Monday, April 12, 2021
9:53 AM EST – Tamarack Valley Energy Ltd. : Has entered into a definitive agreement to acquire Anegada Oil Corp., a privately held pure play Charlie Lake light-oil producer, for total net consideration of $494 million, after deducting the proceeds from the sale of a 2% newly created gross overriding royalty on the acquired assets. The total net consideration consists of $247.5 million in cash and debt (net of GORR), subject to adjustment, and approximately 105.3 million common shares of Tamarack at a deemed price of $2.34 per Tamarack Share. Tamarack’s credit syndicate has provided commitments to increase the available capacity under the Company’s credit facilities to $600 million and extend the revolving period to May 31, 2022, concurrent with the close of the Acquisition. Tamarack Valley Energy Ltd. (T.TVE ) shares were up $0.08 at 2.34.
Stocks in Play: Tamarack Valley Energy Ltd., Mon, 12 Apr 2021 10:00:03 EST