Vermilion Energy Inc. Sells Common Shares of Coelacanth Energy Inc.

Core Viewpoint - Vermilion Energy Inc. has sold 30 million common shares of Coelacanth Energy Inc. for $22.8 million, reducing its ownership from approximately 20.7% to 15.0% of Coelacanth's outstanding shares, as part of its strategy to reduce debt and enhance business resiliency [1][2][3]. Group 1: Transaction Details - Vermilion sold 30,000,000 common shares at a price of $0.76 per share, totaling $22,800,000 [1]. - The sale represents more than 2% of the issued and outstanding common shares of Coelacanth, necessitating the filing of an Early Warning Report [1]. Group 2: Ownership Changes - Prior to the transaction, Vermilion held 110,179,104 common shares, equating to approximately 20.7% of Coelacanth's shares [2]. - After the transaction, Vermilion's holdings decreased to 80,179,104 common shares, representing about 15.0% of the total [2]. Group 3: Strategic Intent - The sale aligns with Vermilion's priority of reducing debt to improve business resilience [3]. - Vermilion is restricted from selling more than 60,000,000 of its remaining shares until June 8, 2026, without Coelacanth's consent, but may adjust its holdings based on market and economic conditions [3]. Group 4: Company Overview - Vermilion is a global gas producer focused on acquiring, exploring, and developing liquids-rich natural gas in Canada and conventional natural gas in Europe, aiming to optimize low-decline oil assets [5]. - The company emphasizes health and safety, environmental protection, and profitability as its core priorities [6].