Altura Energy Provides Update on Brokered Private Placement
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VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Altura Energy Corp.(the “Company”) (TSXV: ALTU), (FRA: Y02.F)is pleased to announce that, further to its news release dated April 15, 2025, it has engaged Haywood Securities Inc. (the “Agent”) to act as the sole agent and bookrunner in connection with a private placement offering of up to 15,000,000 units of the Company (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds to the Company of up to $1,500,000 (the “Offering”).
Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of $0.25 at any time up to sixty months following the Closing Date (as defined herein). In the event that the closing price of the Common Shares on the TSX Venture Exchange (or such other stock exchange the Common Shares may be listed on from time to time) is equal to or greater than $0.75 for a period of twenty consecutive trading days (the “Acceleration Event”), the Company may, within five trading days following the Acceleration Event, upon issuing a news release, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such news release.
The Company has granted the Agent an option to sell up to an additional 2,250,000 Units at the Issue Price for additional gross proceeds to the Company of up to $225,000, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date.
The Units to be issued under the Offering will be Offered by way of private placement pursuant to applicable exemptions from the prospectus requirements in each of the provinces of Canada, and in jurisdictions outside of Canada, excluding the United States, mutually agreed by the Company and the Agent, provided that no prospectus filing, registration or comparable obligation arises in such other jurisdiction.
The Offering is expected to close on or around June 4, 2025 or such other date as agreed upon between the Company and the Agent (the “Closing Date”) and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the Closing Date in accordance with applicable securities laws.
The net proceeds from the Offering will be utilized by the Company to repay existing indebtedness and for working capital and general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT ALTURA ENERGY CORP.
Altura Energy Corp. is an exploration and production company with interests in the prolific Holbrook basin of Arizona. For more information, please visit SEDAR+ (www.sedarplus.ca).
FOR FURTHER INFORMATION
Robert Johnston
CEO & Director
+1 604-609-6110
Forward Looking Statements
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company 's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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