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BRIEF-Freehold Royalties Ltd to acquire royalty production, mineral title lands for $165 mln

Published 2016-05-02, 05:22 p/m
© Reuters.  BRIEF-Freehold Royalties Ltd to acquire royalty production, mineral title lands for $165 mln
FRU
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May 2 (Reuters) - Freehold Royalties Ltd FRU.TO
* Freehold Royalties Ltd. Enters into agreement to acquire
royalty production and mineral title lands for $165 million,
provides increased 2016 production guidance and announces equity
financing
* Transaction will be funded by a $165 million bought deal
equity financing
* Freehold Royalties Ltd says has increased its 2016 average
production guidance to 11,400 boe/d
* Transaction is expected to be approximately 2% accretive
to 2016 funds from operations per share
* Assuming closing of transaction, freehold has increased
its 2016 average production guidance to 11,400 boe/d
* Expects to use net proceeds from financing to complete
transaction, remainder to pay down portion of outstanding
indebtedness
* Entered into a definitive agreement with Husky Energy Inc.
To acquire a suite of royalty production and lands

Source text for Eikon: ID:nCCN2sMk0d
Further company coverage: FRU.TO

(Bengaluru newsroom)

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