CALGARY,
AB, Jan. 31, 2025 /PRNewswire/ - Strathcona
Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR)
today announced that Waterous Energy Fund Co-investment
(Canadian) LP and Waterous Energy Fund Co-investment
(International) LP (together, the "WEF Funds"), two of the limited
partnerships comprising Waterous Energy Fund ("WEF"), have
completed a share pass-through transaction resulting in the
disposition of 24,010,576 common shares of Strathcona, representing
approximately 11.2% of the issued and outstanding common shares of
Strathcona, by the WEF Funds to their limited partners (the
"Transaction").
Following completion of the Transaction, the ownership of the
issued and outstanding common shares of Strathcona by limited
partnerships comprising WEF collectively decreased from
approximately 90.8% to approximately 79.6%, resulting in public
float of over 20%.
The Transaction was comprised of a series of reorganizational
steps and the number of issued and outstanding shares of Strathcona
remains the same following completion of the Transaction. The
Transaction did not require shareholder approval.
The common shares distributed pursuant to the Transaction may be
subject to applicable Canadian and U.S. securities law resale
restrictions.
About Strathcona
Strathcona is one of
North America's fastest growing
oil and gas producers with operations focused on thermal oil,
enhanced oil recovery and liquids-rich natural gas. Strathcona is built on an innovative approach
to growth achieved through the consolidation and development of
long-life oil and gas assets. Strathcona's common shares
(symbol SCR) are listed on the Toronto Stock Exchange
(TSX).
For more information about
Strathcona, visit www.strathconaresources.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/strathcona-resources-ltd-announces-increased-public-float-as-a-result-of-partial-disposition-of-common-shares-by-waterous-energy-fund-302365613.html
SOURCE Strathcona Resources Ltd.
