Saturn Oil & Gas Inc. T.SOIL

$525 M Accretive Core-Area Saskatchewan Asset Acquisition

[Betteryear2]

CALGARY, AB, May 6, 2024 /CNW/ - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF)("Saturn") or the "Company") is pleased to announce today that the Company has entered into a definitive purchase agreement for the strategic acquisition of two oil-weighted asset packages in southern Saskatchewan (the "Acquisition") that are contiguous with the Company's existing Saskatchewan asset base, for total net cash consideration of approximately $525 million (the "Transaction Value" or "TV"). The closing date of the Acquisition is expected on or about June 14, 2024 (the "Closing Date") with an effective date of January 1, 2024 (the "Effective Date"), subject to customary approvals and closing conditions.

Saturn Oil & Gas Inc. Announces $525 Million Accretive Core-Area Saskatchewan Asset Acquisition, Transformational Debt Recapitalization, $150 Million RBL Commitment and a $100 Million Bought Deal Equity Financing (newswire.ca)

[downwithdotcom1]

more importantly..bought deal @ $2.35..what happens tommorrow?? sure hope they fare better when CPG took out HAMMERHEAD ..dwdc  currently $2.65 0.04

[downtozero]

$100M @ $2.35 will likely drag the share price down to close to $2.35 for a while until the new assets prove themselves.