Tamarack Valley Energy Ltd. completed the acquisition of Crestwynd Exploration Ltd. for approximately CAD 180 million.
As on February 2, 2022, Tamarack Valley announces that it has entered into an underwriting agreement to sell, on a private placement basis, CAD 200 million aggregate principal amount of 7.25% senior unsecured sustainability-linked notes due May 10, 2027. Closing of the Offering is expected to occur on or about February 10, 2022, subject to satisfaction of customary closing conditions. Tamarack intends to use the net proceeds of the Offering to fund a portion of the purchase price for acquisition of Crestwynd Exploration Ltd. and repay amounts outstanding under Tamarack's sustainability linked credit facility. The Notes will eliminate the requirement for the previously announced separate and additional CAD 100 million credit facility from the existing syndicate.
Peters & Co. Limited and RBC Capital Markets are acting as financial advisors to Tamarack with respect to the Acquisition. CIBC Capital Markets and Stifel FirstEnergy are acting as strategic advisors to Tamarack with respect to the Acquisition. Stikeman Elliott LLP is acting as legal counsel to Tamarack with respect to the Acquisition and the SLL Facility. National Bank Financial Inc. is acting as exclusive financial advisor to Crestwynd. Burnet, Duckworth & Palmer LLP is acting as legal counsel to Crestwynd. Nicholas J. Johnson, Nathan M. Trainor, Mark C. Pearson, Kory Cross, Omid Eslami of Stifel FirstEnergy acted as a financial advisor to Tamarack Valley Energy Ltd.
Tamarack Valley Energy Ltd. (TSX:TVE) completed the acquisition of Crestwynd Exploration Ltd. on February 15, 2022.