• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Headwater Exploration Inc. announces exercise of warrants held by Cenovus Energy Inc.

December 22, 20216:16 AM CNW

CALGARY, AB – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces that it has issued a call notice to Cenovus Marten Hills Partnership (“CMHP“), a wholly-owned subsidiary of Cenovus Energy Inc. (“Cenovus“), requiring CMHP to exercise the 15,000,000 warrants (the “Warrants“) to purchase common shares (“Common Shares“) of the Company that CMHP holds. Each Warrant entitles CMHP to purchase one Common Share at an exercise price of $2.00. Headwater and CMHP have agreed that CMHP will exercise the Warrants on December 23, 2021. On exercise of the Warrants, Headwater will receive $30,000,000 in cash and CMHP will receive 15,000,000 Common Shares (representing 6.9% of the issued and outstanding Common Shares). Other than the Warrants, neither CMHP nor Cenovus hold any additional Common Shares or other securities of the Company.

The Warrants were issued to CMHP as partial consideration for the acquisition by Headwater of Cenovus’ interest in the Marten Hills area of Alberta in December 2020.

Cenovus Headwater Exploration

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Column: Appalling new historical precedent – surplus cash flow cannot solve world’s energy problems, by design
  • One commercially proven carbon capture technology is Fluor’s Econamine FG PlusSM (EFG+).
  • Inviting International Conference on geo-resources plant technology for oil & gas
  • Oil output in Permian to rise to record high in September
  • U.S. natural gas futures down 1% on rising output, lower demand

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.