Globe & Mail 12:55 PM EDT, 03/25/2021 (MT Newswires) -- Tamarack Valley Energy (TVE.TO) on Thursday said it closed the net C$135.3 million acquisition of two Alberta oil properties and completed a bought-deal share offering that raised C$68 million.
The company said its new properties in the Provost and Nipisi regions of Alberta produce 2,800 barrels of oil equivalent per day and include 34,800 acres of exploration lands. It also sold Topaz Energy (TPZ.TO) a 4% gross overriding royalty on some of the Nipisi assets for C$13.7 million.
Tamarack said it closed a bought-deal sale of 30.3 million shares priced at C$2.25, and issued a further 4.89 million shares to pay for part of its purchase of Woodcote Petroleum announced earlier this month, which is also receiving C$32 million in cash.
The company's shares were last seen up C$0.005 to C$2.085 on the Toronto Stock Exchange.
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