Bullboard - Stock Discussion Forum i3 Energy Plc. T.ITE

Alternate Symbol(s): ITEEF

Energy Oil & Gas E&P

i3 Energy is an oil and gas Company with a low cost, diversified, growing production base in Canada's most prolific hydrocarbon region, the Western Canadian Sedimentary Basin and development assets in the North Sea with significant upside. The Company is well positioned to deliver future growth through the optimisation of its existing 100% owned asset base and the acquisition of long life, low... see more

TSX:ITE - Post Discussion

i3 Energy Plc. > Partial Sale of the Company's Royalty Assets T.ITE

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Post by Betteryear2 on Apr 17, 2024 9:47am

Partial Sale of the Company's Royalty Assets T.ITE

("i3", "i3 Energy", or the "Company")
Partial Sale of the Company's Royalty Assets and Elimination of All Bank Indebtedness

EASTLEIGH, UNITED KINGDOM / ACCESSWIRE / April 17, 2024 / i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that its subsidiary, i3 Energy Canada Ltd., has entered into a definitive agreement with a newly formed private royalty company for the sale of certain of the Company's royalty assets (the "Royalty Disposition") for a total gross cash consideration of USD 24.81 million (CAD 33.50 million(1)) before customary closing adjustments. The proceeds of the Royalty Disposition mark the next step in transitioning i3's capital structure, enhancing the Company's financial flexibility through improved liquidity and enabling acceleration of its growth and income-based business plan.

i3 Energy PLC Announces Partial Sale of the Company's Royalty Assets (accesswire.com)

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