PR Newswire
CALGARY, AB, Aug. 12, 2024 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement with Crew Energy Inc. ("Crew") to acquire all of the issued and outstanding common shares of Crew(1) (the "Acquisition" or the "Arrangement") in exchange for 18.778 million Tourmaline common shares and the assumption of net debt of approximately $240 million, including all transaction costs, for total consideration of approximately $1.3 billion(2). The Acquisition is expected to close in early October 2024, subject to customary closing conditions.
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