RE:Paramount Resources Disposes of a Portion of Its Investment on April 11, 2024 by means of a block trade through the facilities of the TSX (the "Transaction"). Paramount received $12.50per NuVista Share for aggregate cash consideration of $75,000,000.
The NuVista Shares disposed of pursuant to the Transaction represented 2.91% of the 206,332,335 NuVista Shares reported by the TSX to be outstanding as of April 11, 2024. Prior to the Transaction, Paramount had direct ownership and control of 37,252,142 NuVista Shares, representing 18.05% of the outstanding NuVista Shares. Following the Transaction, Paramount has direct ownership and control over 31,252,142 NuVista Shares, representing 15.15% of the outstanding NuVista Shares.
The purpose of the Transaction was to monetize a portion of Paramount's investment in NuVista Shares.