Freehold Royalties (TSE:FRU) has released an update.
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Freehold Royalties Ltd. has successfully completed an upsized equity financing, raising approximately $172.5 million, and plans to use the funds to acquire additional mineral and royalty interests in the Midland Basin, Texas, for a total of $259 million. The acquisition is expected to enhance Freehold’s production and revenue from the assets, positioning the company as a major player in the North American energy royalty sector.
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