CALGARY, AB, Oct. 3, 2023 /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona”) announced today that it has closed the acquisition (the “Acquisition”) of Pipestone Energy Corp. (“Pipestone”).
The Acquisition will result in Strathcona becoming a publicly traded reporting issuer on the Toronto Stock Exchange.
The Acquisition was structured through a plan of arrangement under the Business Corporations Act (Alberta), where existing Pipestone shareholders received 0.067967 common shares of Strathcona for each Pipestone common share.
The Acquisition will result in Strathcona becoming a publicly traded reporting issuer on the Toronto Stock Exchange under the symbol SCR. Trading of Strathcona common shares is expected to begin on or about Thursday, October 5, 2023, at which point Pipestone’s shares will be delisted.
About Strathcona
Strathcona Resources is one of North America’s fastest growing oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life oil and gas assets. Strathcona’s common shares (symbol SCR) are listed on the Toronto Stock Exchange (TSX) and will commence trading on the TSX as described in this news release.
For more information about Strathcona Resources, visit www.strathconaresources.com.