Lycos Energy Inc. Announces the Completion of Previously Announced $60.0 Million Asset Sale

Core Points - Lycos Energy Inc. has successfully completed the sale of certain assets for cash consideration of $60.0 million [2][3] - The company plans to allocate approximately $9.0 million of the net proceeds towards debt repayment and return approximately $47.9 million to shareholders as a cash distribution of $0.90 per Common Share [3][4] - A special meeting for shareholders is scheduled for November 13, 2025, to consider a resolution for reducing the stated capital account to facilitate the cash distribution [4] Financial Details - The asset sale involves properties located in the Lindbergh, Moose Lake, and Fishing Lake areas of Alberta [2] - The current $50.0 million credit facility will remain unchanged following the asset sale [3] - The cash distribution will be treated as a return of capital if approved, otherwise, it will be paid as a special dividend [4] Future Plans - The company is reviewing its development plans for the remainder of 2025 and into 2026, with an update expected by November 18, 2025 [5] - Lycos Energy focuses on oil exploration, development, and production, operating in Central Alberta [6]