On May 11, 2022, Razor Energy Corp. in conjunction with FutEra Power Corp., a wholly owned subsidiary of Razor, completed its previously announced flow-through share rights offering to eligible holders of Razor’s common shares. Razor issued approximately 1.96 million common shares at a price of $2.55 per common share for gross aggregate proceeds of approximately $5 million. The gross proceeds from the offering will be used by Razor to incur “Canadian renewable and conversation expenses” within the meaning of the Income Tax Act (Canada) on its co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta.
Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alberta, concentrated on acquiring, and subsequently enhancing, producing oil and gas properties primarily in Alberta.
McCarthy Tétrault assisted Razor with a team led by Brad Squibb that included Michael J. Bennett, Niki Gill, Matthew Hooker (Business) and Brett Anderson (Tax).
