Brief: Advantage Announces Strategic Asset Acquisition And Concurrent Financing

Advantage Energy

10/06/2024 21:57

Advantage Energy Ltd  AAV.TO :
    * ADVANTAGE ANNOUNCES STRATEGIC ASSET ACQUISITION AND
CONCURRENT
FINANCING
    * ADVANTAGE ENERGY LTD - PROPOSED DEAL FOR $450 MILLION
    * ADVANTAGE ENERGY LTD - ENTERED DEFINITIVE ASSET PURCHASE
AGREEMENT TO ACQUIRE CHARLIE LAKE AND MONTNEY ASSETS FROM A
PRIVATE SELLER FOR $450 MILLION
    * ADVANTAGE ENERGY LTD - ACQUISITION WILL BE FUNDED THROUGH
A
COMBINATION OF COMMON EQUITY, CONVERTIBLE DEBENTURES AND AN
UPSIZED CREDIT FACILITY
    * ADVANTAGE ENERGY LTD - ADVANTAGE EXPECTS ANNUAL PRODUCTION
TO
GROW BY ROUGHLY 20% IN 2024 AND 14% IN 2025
    * ADVANTAGE ENERGY LTD - PLANS TO HOLD PRODUCTION FROM
ACQUIRED
CHARLIE LAKE ASSETS AT CURRENT LEVELS FOR FORESEEABLE FUTURE

Source text for Eikon:  ID:nCNWVkHg8a 
Further company coverage:  AAV.TO