Questerre Details Timeline and Structure for Quebec Asset Spin-Out and Share Exchange

Questerre ( (TSE:QEC) ) has issued an announcement.

Questerre Energy Corporation has outlined key details and timelines for a corporate reorganization that will spin out its Quebec assets, including the exchange of its existing Class A common shares for new Class A common shares and a new Series 2 preferred share series. For each existing common share, shareholders will receive one new common share and one Series 2 preferred share, with the new common shares continuing to trade on the Toronto Stock Exchange and Oslo Bors, while the company explores listing options for the preferred shares, currently estimated by management to have a nominal fair market value of C$0.01 each. The company provided a detailed schedule of record, ex, and effective dates in Canada and Norway and signaled planned amendments to the terms of the preferred shares, including enhanced oversight through nomination rights for a director and required Toronto Stock Exchange approval for any future conversion into common shares. Questerre also confirmed that shareholders exchanging Red Leaf Resources Inc. shares after the distribution record date will receive Series 2 preferred shares alongside any new common shares issued, indicating a broader alignment of its corporate restructuring with the Red Leaf acquisition.

The most recent analyst rating on (TSE:QEC) stock is a Hold with a C$0.31 price target. To see the full list of analyst forecasts on Questerre stock, see the TSE:QEC Stock Forecast page.

Spark’s Take on TSE:QEC Stock

According to Spark, TipRanks’ AI Analyst, TSE:QEC is a Neutral.

Questerre’s overall stock score is primarily influenced by its financial performance and valuation. The company shows revenue growth and a stable balance sheet, but significant profitability challenges and a negative P/E ratio weigh heavily on the score. Technical analysis indicates a neutral market sentiment, neither strongly positive nor negative.

To see Spark’s full report on TSE:QEC stock, click here.

More about Questerre

Questerre Energy Corporation is a Calgary-based energy technology and innovation company that leverages its early experience in low-permeability reservoirs to acquire high-quality hydrocarbon resources. The company focuses on transitioning its energy portfolio through clean technologies and innovative methods to produce and use energy more responsibly, emphasizing a balance between economic viability, environmental protection, and social considerations.

Average Trading Volume: 27,789

Technical Sentiment Signal: Buy

Current Market Cap: C$126.4M

Learn more about QEC stock on TipRanks’ Stock Analysis page.