Tourmaline Oil Corp. (TSX:TOU) entered into a definitive agreement to acquire Black Swan Energy Ltd. for CAD 1.1 billion on June 11, 2021. Tourmaline will issue 26 million shares as consideration and will assume net debt up to a maximum of CAD 350 million, including all transaction costs. The transaction is subject to regulatory approval. The board of directors of each Black Swan and Tourmaline have unanimously approved the transaction. The transaction is expected to close in the second half of July 2021. Scotia and Stifel FirstEnergy acted as financial advisors to Tourmaline and Peters & Co. Limited acted as financial advisor to Black Swan. Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Black Swan Energy Ltd. on July 15, 2021.