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Altima Resources ( (TSE:ARH) ) has issued an announcement.
Altima Energy Inc. has closed a non-brokered private placement, raising $5.5 million through the issuance of 20 million units at $0.275 per unit. Each unit includes a common share and a warrant, allowing the purchase of an additional share at $0.40 within two years. The funds will be used for oil and gas operations development, future acquisitions, debt repayment, and general working capital, including repaying a $2 million secured loan. The financing is subject to final approval from the TSX Venture Exchange.
More about Altima Resources
Altima Energy Inc. is a Vancouver-based oil and gas exploration and production company focused on unlocking hydrocarbon assets across North America. The company is committed to efficient resource development, utilizing cutting-edge technology and industry expertise to drive operational excellence and sustainable growth, with a focus on long-term value creation and disciplined asset management.
Average Trading Volume: 606,344
Technical Sentiment Signal: Buy
Current Market Cap: C$58.27M
See more insights into ARH stock on TipRanks’ Stock Analysis page.