Surge Energy Inc. completes C$58M acquisition of Fire Sky Energy Inc.
November 01, 2021
58.00 Million CAD
On October 4, 2021, Surge Energy Inc. and Fire Sky Energy Inc. entered into an amalgamation agreement, pursuant to which Surge Energy has agreed to acquire all of the issued and outstanding common shares of Fire Sky Energy by way of a statutory amalgamation for total consideration of C$58 million. The transaction was funded by the issuance of approximately $11.2 million Surge Energy common shares and the assumption of approximately C$3 million of net debt, inclusive of transaction costs. The transaction closed on November 1, 2021
Surge Energy Inc. is an oil focused E&P company that has crude oil reserve, production and cash flow base.
McCarthy Tétrault LLP assisted Surge Energy Inc. with a team led by Michael Bennett that included Niki Gill, Ashley Wilson and Karsten Carriere (Business Law), Jonathan Bitran (Competition) and Matthew Kraemer (Tax).