Todd Minerals Ltd.’s subsidiary Todd Sizzon Ltd., also known as Todd Holdco, entered into a subscription agreement with Northcliff Resources Ltd., according to a Jan. 23 press release.
Pursuant to the agreement, Todd Holdco will acquire 37,333,333 common shares in Northcliff at a purchase price of CA$0.01875 (US$ 0.014) per common share for an aggregate purchase price of CA$700,000 (approximately US$517,000), the release stated.
Following the acquisition, Todd Holdco will hold an aggregate of 476,391,477 common shares, representing approximately 80.87% of the issued and outstanding common shares, according to the release. Prior to this agreement, Todd Holdco held approximately 79.57% of Northcliff’s common shares, or 439,058,144 common shares.
The subscription is expected to be completed by the end of January.
Recommended Reading
Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat
2024-03-18 - By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.