Fiddlehead Announces Fully Funded Strategic and Accretive Acquisition of a Private Central Alberta Producer, Expanding Pro Forma Company Interest Production to 3,850 boe/d at Closing, Refinancing of Debt Facility, and Fully Committed Equity Financing
CALGARY, AB, April 10, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") is pleased to announce that it has entered into a share purchase agreement dated April 10, 2025 (the "Purchase Agreement") with a privately owned Central Alberta producer ("PrivateCo") to acquire upstream producing and non-producing assets near Cynthia, Alberta (the "Cynthia Assets"). Pursuant to the terms of the Purchase Agreement, Fiddlehead proposes to acquire all of the issued and outstanding shares of PrivateCo as further described below (the "Transaction") for total consideration of CAD$21,000,000 (the "Purchase Price"), consisting of CAD$18,000,000 cash consideration and CAD$3,000,000 in units of Fiddlehead ("Unit"). Each Unit consists of one common share of Fiddlehead ("Common Share") valued at a price of CAD$0.20 per share and one whole share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of CAD$0.24 per share