Sintana Energy Inc. announced a private placement of 33,600,000 common shares at a price of $0.117 per share for aggregate gross proceeds of $3,931,200 on September 15, 2021. The transaction will include participation from Charlestown Energy Partners, LLC, conditional upon the concurrent completion of the Acquisition and other standard closing conditions. The transaction is subject to the satisfaction of various closing conditions and the receipt of all applicable approvals, including, without limitation, the approval of the TSXV.

The transaction will also be subject to approval by company's shareholders given that Charlestown Energy Partners, LLC will become a “control person” of the company.