Core Viewpoint - Altura Energy Corp. is initiating a non-brokered private placement offering of a minimum of 10,000,000 units at a price of $0.10 per unit, aiming for gross proceeds of at least $1,000,000 [1][4]. Group 1: Offering Details - Each unit will consist of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at an exercise price of $0.25 for up to sixty months [2]. - If the closing price of the common shares reaches or exceeds $0.75 for twenty consecutive trading days, the company may accelerate the expiry date of the warrants to 30 days after a news release [2]. - The offering will be conducted through private placement under applicable exemptions from prospectus requirements in Canada and other jurisdictions, including the United States [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for site maintenance, additional well recompletions, working capital, and general corporate purposes [4]. Group 3: Closing and Regulatory Aspects - The offering is expected to close around January 30, 2026, subject to necessary approvals, including from the TSX Venture Exchange [6]. - The securities issued will have a hold period of four months and one day from the closing date in accordance with applicable securities laws [6]. Group 4: Insider Participation - The company anticipates that insiders will subscribe for units, which is considered a related party transaction under Multilateral Instrument 61-101 [7]. - The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements as the transaction is not expected to exceed 25% of the company's market capitalization [7]. Group 5: Company Overview - Altura Energy Corp. is an exploration and production company with interests in the Holbrook basin of Arizona [9].
Altura Energy Announces Non-Brokered Private Placement a Minimum of $1.0 Million