Valeura Energy Inc. (TSX:VLE) (“Valeura” or the “Company”), the upstream oil and gas company with assets in the offshore Gulf of Thailand and the Thrace Basin of Turkey, is pleased to announce that it has entered into an agreement for a bought deal basis, private placement of 3,937,000 common shares of the Company (the “Common Shares”) at a price of C$2.54 per Common Share for aggregate gross proceeds to the Company of approximately C$10 million (the “Offering”). The Offering is being led by Research Capital Corporation as the sole underwriter and sole bookrunner (the “Underwriter”).
The net proceeds from the Offering will be used to fund the Company’s pre-production operations at the Wassana field and its Wassana infill drilling programme and for general corporate purposes.
The closing of the Offering is expected to occur on or about February 9, 2023 or such later or earlier date as the Underwriter may determine and is subject to the Company receiving all necessary regulatory and TSX approvals.
The Offering will be conducted pursuant to the amendments to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) set forth in Part 5A thereof (the “Listed Issuer Financing Exemption”) to purchasers resident in Canada, except Québec, and/or other qualifying jurisdictions pursuant to the Listed Issuer Financing Exemption. The Common Shares offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.
There is an offering document related to the Listed Issuer Financing Exemption Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at https://www.valeuraenergy.com/. Prospective investors should read this offering document before making an investment decision.