InPlay Oil Corp. ( (TSE:IPO) ) has issued an announcement.
InPlay Oil Corp. has announced an increase in its previously declared equity offering to $28.5 million due to high demand. This upsized offering will support the company’s acquisition of petroleum and natural gas assets in Alberta, valued at approximately $309 million, with funding also sourced from its $300 million credit facilities. The transaction is expected to enhance InPlay’s operational capabilities and market position, subject to customary closing conditions and regulatory approvals.
More about InPlay Oil Corp.
InPlay Oil Corp. is a junior oil and gas exploration and production company operating in Alberta, focusing on light oil production. The company manages long-lived, low-decline properties with potential for drilling development and enhanced oil recovery, as well as undeveloped lands with exploration possibilities. Its shares are traded on the Toronto Stock Exchange and the OTCQX Exchange.
YTD Price Performance: -2.35%
Average Trading Volume: 112,907
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$149.6M
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