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Surge Energy Inc. completes C$58M acquisition of Fire Sky Energy Inc.

Date Closed

November 01, 2021

Lead Office

Calgary

Value

58.00 Million CAD

On November 1, 2021, Surge Energy Inc. and Fire Sky Energy Inc. completed its previously announced amalgamation agreement, pursuant to which Surge Energy has acquired 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. 

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).

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