From GlobeNewswire: 2025-03-05 20:02:10

Prairie Provident Resources Inc. has closed the second tranche of its equity financing, raising $8.67 million in gross proceeds. The Company issued a total of 86,267,672 units and 117,647,059 common shares in the offerings. The net proceeds will be used to drill two additional Basal Quartz wells and for general corporate purposes. The common shares issued under the private placement are subject to a restricted 4-month hold period, while the units sold under the LIFE Offering are not. Insider participation totaled $7.32 million, with PCEP and certain directors and officers investing in the offerings.

The Company announced rig release at the Basal Quartz horizontal well 100/14-32-29-18W4M, with drilling operations at another well underway. The insider participation in the offerings was exempt from the formal valuation and minority approval requirements. Prairie Provident reminds investors that this news release does not constitute an offer to sell securities in the United States.



Read more at GlobeNewswire: Prairie Provident Announces Closing of Final Tranche of