Cavvy Announces Warrant Exercise

Core Viewpoint - Cavvy Energy Ltd. has announced the exercise of common share purchase warrants by an affiliate of Erikson National Energy Inc., resulting in proceeds of $3.5 million to be used for debt repayment [1][2]. Group 1: Warrants and Financial Details - The warrants were issued to Erikson in 2019 as part of a debt financing arrangement with Cavvy, then known as Pieridae Energy Limited [2]. - The warrants were exercised at a price of $0.6836 per share, leading to the issuance of 5,120,235 common shares [2]. - Following the exercise of the warrants, Cavvy has a total of 295,975,505 common shares outstanding [2]. Group 2: Company Overview - Cavvy Energy is an integrated Canadian upstream and midstream energy company based in Calgary, Alberta [3]. - The company's objective is to create long-term shareholder value through the development, production, processing, and marketing of natural gas, natural gas liquids, and sulphur [3]. - Cavvy aims to provide superior service to third-party customers through its strategic, company-owned gathering and processing infrastructure located in western Canada [3].