Condor Energizes Investment with ERV Share Acquisition
Deal News | Dec 11, 2024 | Globenewswire
EurAsia Resource Value S.E. (ERV) has expanded its stake in Condor Energies Inc. by acquiring 1,052,632 additional common shares for approximately CAD 2 million, at CAD 1.90 per share. This acquisition was part of a larger offering facilitated by Condor under the Listed Issuer Financing Exemption regulations in Canada, where a total of 10,198,582 common shares were issued. Pre-acquisition, ERV held a 23.40% stake in Condor, which has slightly decreased to 21.42% post-acquisition due to the larger number of shares issued. The transaction was executed for investment purposes, aligning with Condor's business strategy, and an early warning report has been filed with the Canadian Securities Administrators.
Sectors
- Energy
- Finance
Geography
- Republic of Cyprus – EurAsia Resource Value S.E. is based in Limassol, Cyprus.
- Canada – Condor Energies Inc., the target company, is headquartered in Calgary, Alberta, Canada and trades on the Toronto Stock Exchange.
Industry
- Energy – The article involves Condor Energies Inc., which operates within the energy sector.
- Finance – The article discusses investment and share acquisitions right after a public offering, involving financial transactions.
Financials
- CAD 2,000,000.80 – Aggregate consideration paid by ERV for additional common shares of Condor.
- CAD 1.90 – Price per share paid by ERV in the share acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EurAsia Resource Value S.E. | Bidding Company | Company | A company based in Limassol, Republic of Cyprus, and the largest shareholder in Condor Energies Inc. |
| Condor Energies Inc. | Target Company | Company | An energy company whose shares are traded on the Toronto Stock Exchange, headquartered in Calgary, Canada. |
| Norman Storm | Contact | Person | Contact person for EurAsia Resource Value S.E. as noted in the article for obtaining further information. |