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Sprott Resource Corp Completes Sale Of Its Subsidiary Waseca Energy Inc. To Twin Butte Energy Ltd.

Thursday, 1 Nov 2012 05:49pm EDT 

Sprott Resource Corp announced that the previously announced sale of its subsidiary Waseca Energy Inc. (Waseca) to Twin Butte Energy Ltd. (TBE) has been completed (the Transaction). The consideration paid to SRC for the Transaction was comprised of approximately $55.1 million of cash and approximately 19.9 million common shares of TBE (the "TBE Shares"). Immediately subsequent to the completion of the Transaction, SRC sold all of the TBE Shares for approximately $56.6 million of cash, resulting in total cash consideration of approximately $111.7 million for the sale of Waseca. SRC invested approximately $44.2 million into Waseca. 

Company Quote

-0.01 -0.32%
11 Jul 2014