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    SGY   CA86880Y8779

SURGE ENERGY INC.

(SGY)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-02-03 pm EST
9.210 CAD   -0.65%
01/30SURGE ENERGY INC. : Ex-dividend day for
FA
01/16Surge Energy Confirms Increased February 2023 Dividend
MT
01/16Surge Energy Inc. Increases February 2023 Dividend, Payable on February 15, 2023
CI
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

SURGE ENERGY INC. - ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED EQUITY FINANCING

11/04/2022 | 08:00am EST

CALGARY, ALBERTA - Surge Energy Inc. ('Surge', 'SGY', or the 'Company') (TSX: SGY) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Peters & Co. Limited to increase the size of its previously announced bought-deal financing (the 'Offering'). Surge will now issue 7,568,000 common shares (the 'Common Shares') at a price of $9.25 per Common Share to raise aggregate gross proceeds of $70,004,000 pursuant to the Offering.

The underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at a price of $9.25 per Common Share to cover over allotments exercisable in whole or in part at any time until 30 days after the closing of the Offering. The maximum gross proceeds that could be raised under the Offering is $80,504,600 should the over-allotment option be exercised in full.

In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the November 2, 2022 press release.

Contact:

Paul Colborne

President & CEO

Surge Energy Inc.

Phone: (403) 930-1507

Fax: (403) 930-1011

Email: pcolborne@surgeenergy.ca

Jared Ducs

CFO

Surge Energy Inc.

Phone: (403) 930-1046

Fax: (403) 930-1011

Email: jducs@surgeenergy.ca

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

(C) 2022 Electronic News Publishing, source ENP Newswire

All news about SURGE ENERGY INC.
01/30SURGE ENERGY INC. : Ex-dividend day for
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Analyst Recommendations on SURGE ENERGY INC.
More recommendations
Financials
Sales 2022 651 M 487 M 487 M
Net income 2022 163 M 122 M 122 M
Net Debt 2022 330 M 247 M 247 M
P/E ratio 2022 4,94x
Yield 2022 2,59%
Capitalization 889 M 664 M 664 M
EV / Sales 2022 1,87x
EV / Sales 2023 1,57x
Nbr of Employees 76
Free-Float 94,3%
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Technical analysis trends SURGE ENERGY INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 9,21 CAD
Average target price 13,75 CAD
Spread / Average Target 49,3%
EPS Revisions
Managers and Directors
Paul Colborne President, Chief Executive Officer & Director
Jared Ducs Chief Financial Officer
James Murray Pasieka Chairman
Murray Bye Chief Operating Officer
Murray D. Smith Independent Director
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