I3 Energy Canada Ltd sold $24.8M in royalty assets to a private company, reducing debt and increasing working capital.
I3 Energy PLC's subsidiary, i3 Energy Canada Ltd, sold $24.8M worth of royalty assets to a new private company. The deal includes i3 fee royalties, i3 gross overriding royalties, and new royalties on some lands. Proceeds will eliminate bank debt and create a working capital surplus, supporting future organic and inorganic initiatives.
April 17, 2024
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