Saturn Oil & Gas Inc. Announces Results of Substantial Issuer Bid

Core Points - Saturn Oil & Gas Inc. has completed a substantial issuer bid, purchasing 1,608,182 common shares at a price of $2.15 per share, totaling approximately $3.46 million [1][2][3] - The shares purchased represent about 0.8% of the total issued and outstanding shares as of June 11, 2025, leaving 193,318,469 shares outstanding post-offer [2] - All validly deposited shares will be purchased as the total number tendered was less than the maximum allowed under the offer, eliminating the need for proration [3] Tax Implications - Based on the estimated paid-up capital of $2.18 per share, shareholders who sold shares under the offer are not expected to receive a taxable dividend [4] Future Plans - The company's normal course issuer bid (NCIB) was suspended during the offer period but will resume, with intentions to continue purchasing shares until the expiry on August 26, 2025, or until the maximum number of shares is acquired [5] Company Overview - Saturn is a Canadian energy company focused on the development of light oil-weighted assets in Saskatchewan and Alberta, aiming to enhance shareholder returns through efficient operations and strategic acquisitions [6]