PrairieSky Royalty Closes $230.1 Million Bought Deal Equity Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

PrairieSky Royalty Ltd. (" PrairieSky " or the " Company ") (TSX: PSK) is pleased to announce that it has closed its previously announced bought deal offering of common shares (the " Offering "). Pursuant to the Offering, the Company issued 17,169,500 common shares (including 2,239,500 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters) at a price of $13.40 per common share, for aggregate gross proceeds of approximately $230.1 million. The syndicate of underwriters was led by TD Securities Inc. and RBC Capital Markets as joint bookrunners and co-led by CIBC Capital Markets and BMO Capital Markets. Net proceeds from the Offering will be used to partially fund the previously announced $728 million acquisition of 1.9 million acres of royalty lands across Western Canada and complementary seismic assets. The common shares issued in connection with the Offering are eligible to receive the dividend declared on December 8, 2021, for shareholders of record on December 31, 2021.

The common shares of PrairieSky issued in connection with the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, these securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of PrairieSky's common shares in the United States.

FORWARD LOOKING STATEMENTS & INFORMATION

This press release contains a forward-looking statement concerning the use of the net proceeds of the Offering. The use of the net proceeds of the Offering might change if the acquisition described above is not completed. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond PrairieSky's control. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. PrairieSky's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that PrairieSky will derive therefrom.

The information in this press release could differ materially from those anticipated in the forward-looking statements as a result of the risk factors set forth in PrairieSky's annual information form for the year ended December 31, 2020 and PrairieSky's final short form prospectus dated December 10, 2021, each of which is available under PrairieSky's profile on SEDAR at www.sedar.com .

Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess in advance the impact of each such factor on PrairieSky's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

The forward-looking information contained in this document is expressly qualified by this cautionary statement.

ABOUT PRAIRIESKY ROYALTY LTD.

PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada. PrairieSky's common shares trade on the Toronto Stock Exchange under the symbol PSK.

FOR FURTHER INFORMATION PLEASE CONTACT:

Andrew Phillips
President & Chief Executive Officer
PrairieSky Royalty Ltd.
(587) 293-4005

Pamela Kazeil
Vice President, Finance & Chief Financial Officer
PrairieSky Royalty Ltd.
(587) 293-4089

Investor Relations
(587) 293-4000
www.prairiesky.com

PDF available: https://ml.globenewswire.com/Resource/Download/c5e7c5be-a95b-446e-ba19-1c1190d50dd5


News Provided by GlobeNewswire via QuoteMedia

PSK:CA
The Conversation (0)
Oil rig with stock charts overlayed.

ASX Oil and Gas Stocks: 5 Biggest Companies in 2025

Oil and gas are key energy fuels, and ASX-listed Australian oil and gas companies could benefit from their price moves.

For the most part, 2024 was a volatile year for both the oil and gas markets. In the first half of the year, oil prices were riding an uptrend, spurred on by rising tensions in the Middle East amid tightening supply.

However, after prices peaked at US$91.70 per barrel in early April, demand-side challenges weighed oil down, with levels sinking to US$77 in early June. In the second half of the year, oil prices took a hit as global economic uncertainties continued to grow.

By September 10, oil fell to a year-to-date low of US$69.09 as investors anticipated interest rate cuts in the US and the Israel-Hamas war continued to threaten supply chains. Weakness in demand from China also suppressed oil prices. By late December, prices were holding in the US$72.40 range.

Keep reading...Show less
Green hydrogen renewable energy production facility.

Energizing the Future: How Green Hydrogen is Shaping Sustainable Investments

As the world continues to face the challenges of and find solutions to climate change, the hydrogen economy is emerging as a beacon of hope in the area of sustainable energy. This transformative shift is not just reshaping industries; it's opening up exciting avenues for investors keen on aligning their portfolios with a greener future.

Hydrogen, particularly green hydrogen, is taking center stage in the global push towards decarbonization. Unlike its counterparts — blue and grey hydrogen — green hydrogen is produced using renewable energy sources, resulting in zero carbon emissions. This clean energy carrier is poised to play a crucial role in sectors traditionally difficult to decarbonize, such as heavy industry and long-haul transportation.

The numbers speak volumes about hydrogen's potential. Market projections paint an optimistic picture, with the global hydrogen generation market expected to surge from $158.8 billion in 2023 to a staggering $257.9 billion by 2028. More impressively, the green hydrogen market alone could surpass $334.6 billion by 2032. These figures underscore a seismic shift in energy paradigms, with clean hydrogen potentially capturing up to 30 percent of the market share by 2030, up from less than 1 percent today.

Keep reading...Show less
Alvopetro Energy (TSXV:ALV)

Alvopetro Announces December 2024 Sales Volumes

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces December 2024 sales volumes of 1,828 boepd, including natural gas sales of 10.3 MMcfpd, associated natural gas liquids sales from condensate of 110 bopd and oil sales of 9 bopd, based on field estimates, bringing our average sales volumes to 1,738 boepd in the fourth quarter of 2024.

Keep reading...Show less
Trillion Energy Announces Completion of Alapli-2 Gas Well

Trillion Energy Announces Completion of Alapli-2 Gas Well

Trillion Energy International Inc. (" Trillion " or the "Company ") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), is pleased to announce the successful installation of 2 38" velocity string tubing (VS) into the Alapli-2 natural gas well. This achievement marks a significant step in our ongoing efforts to enhance long-term gas production at the SASB field.

Following the successful completion of this operation, the team will prepare to transport the snubbing unit via crane barge to the East Ayazli tripod, where 2,888 meters of 2 3/8" VS tubing will be run into the Bayhanli-2 well. This phase is expected to be completed within the next 7 days, weather permitting.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Trillion Energy Announces CEO Retirement and New Management Appointments

Trillion Energy Announces CEO Retirement and New Management Appointments

Trillion Energy International Inc. (" Trillion " or the "Company ") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces that the Company's Board of Directors has accepted Arthur Halleran's resignation and retirement as Chief Executive Officer and Director of the Company, effective December 27, 2024.   Mr. Art Halleran served as CEO since 2017 and spearheaded the SASB development project to date.

The Company is conducting an executive search, committed to selecting and appointing a seasoned executive with capital markets and technical experience to lead the Company as CEO. The recruitment process is well under way and the Board of Directors is committed to concluding the transition as soon as possible. The new CEO will focus on exploiting existing assets and strategically enter new plays to increase overall value to all shareholders.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Trillion Energy Announces Commencement of Operations on Tripods

Trillion Energy Announces Commencement of Operations on Tripods

Trillion Energy International Inc. (" Trillion " or the "Company ") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), is pleased to announce the continuation of the velocity string tubing program on two tripods after previously completing operations on the Akcakoca platform in late November.

This week, a crane barge arrived at the SASB gas field to transport the snubbing unit from the Akcakoca platform to the Akkaya tripod for the next operation on the Alapli-2 well where 2,996 meters of 2 3/8 tubing will be run.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×