TSX: TVE
CALGARY, AB, April 15, 2021 /CNW/ - Tamarack Valley
Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE)
is pleased to announce that, further to its recently completed
bought deal equity financing of common shares of Tamarack
("Common Shares") at a price of $2.25 per Common Share, the over-allotment option
granted to the underwriters has been exercised in full, resulting
in the issuance of 3,030,300 Common Shares on April 15, 2021 for gross proceeds of $6,818,175. The syndicate of underwriters
was led by National Bank Financial Inc. and Peters & Co.
Limited and included Stifel Nicolaus Canada Inc., CIBC World
Markets Inc., Eight Capital, Desjardins Securities Inc., ATB
Capital Markets Inc., BMO Nesbitt Burns Inc. and Raymond James
Ltd.
About Tamarack Valley Energy Ltd.
Tamarack is an oil and gas exploration and production company
committed to long-term growth and the identification, evaluation
and operation of resource plays in the Western Canadian Sedimentary
Basin. Tamarack's strategic direction is focused on two key
principles: (i) targeting repeatable and relatively predictable
plays that provide long-life reserves; (ii) using a rigorous,
proven modeling process to carefully manage risk and identify
opportunities; and (iii) operating as a responsible corporate
citizen with a focus on environmental, social and governance (ESG)
commitments and goals. The Company has an extensive inventory of
low-risk, oil development drilling locations focused primarily in
the Cardium, Clearwater and Viking
fairways in Alberta that are
economic over a range of oil and natural gas prices. With this type
of portfolio and an experienced and committed management team,
Tamarack intends to continue delivering on its strategy to maximize
shareholder returns while managing its balance sheet.
SOURCE Tamarack Valley Energy