Valeura Energy C$10 million bought deal for pre-production operations at Wassana

Valeura Energy Inc

Valeura Energy Inc. (TSX:VLE), the upstream oil and gas company with assets in the offshore Gulf of Thailand and the Thrace Basin of Turkey, has announced that it has entered into an agreement for a bought deal basis, private placement of 3,937,000 common shares of the Company at a price of C$2.54 per Common Share for aggregate gross proceeds to the Company of approximately C$10 million. The Offering is being led by Research Capital Corporation as the sole underwriter and sole bookrunner.

The net proceeds from the Offering will be used to fund the Company’s pre-production operations at the Wassana field and its Wassana infill drilling programme and for general corporate purposes.

The closing of the Offering is expected to occur on or about February 9, 2023 or such later or earlier date as the Underwriter may determine and is subject to the Company receiving all necessary regulatory and TSX approvals.

The Offering will be conducted pursuant to the amendments to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106“) set forth in Part 5A thereof (the “Listed Issuer Financing Exemption“) to purchasers resident in Canada, except Québec, and/or other qualifying jurisdictions pursuant to the Listed Issuer Financing Exemption. The Common Shares offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

Valeura Energy Inc. is a Canada-based public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Turkey, and is pursuing further inorganic growth in Southeast Asia.

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