Altura Energy Closes the Oversubscribed Non-Brokered Private Placement Raising $2.97 Million

Executive Summary

• Altura Energy Corp. closed an oversubscribed non‑brokered private placement of 29,705,977 units at $0.10 per unit, generating gross proceeds of $2,970,597.70.
• The offering included common shares and warrants (exercise price $0.25, expiring Feb 5 2031) and incurred finder’s fees of $174,702 plus issuance of 1,627,020 finder's warrants.
• Altura entered a new strategic advisory agreement with Haywood Securities Inc., issuing 2,900,000 “Rendered Services Units” (common share + warrant) and agreeing to a monthly consulting fee of US $15,000, payable in shares.

Key Details

• Units Offered: 29,705,977 units = 1 common share + 1 warrant per unit.
• Price per Unit: $0.10 → Gross proceeds: $2,970,597.70.
• Warrant Terms: Exercise price $0.25; exercisable any time until Feb 5 2031. Acceleration clause if TSX‑V share price ≥ $0.75 for 20 consecutive trading days.
• Finder’s Fees: $174,702 paid; 1,627,020 finder's warrants issued (same terms as offering warrants).
• Hold Period: All securities from the private placement (including finders’ warrants) subject to a four‑month‑plus‑one‑day hold, expiring June 6 2026.
• Use of Proceeds: Site maintenance, additional well recompletions, working capital and general corporate purposes.
• Related Party Transaction: Director Ian Telfer subscribed for 1,000,000 units ($100,000); transaction exempt from MI 61‑101 valuation/approval thresholds.
• Advisory Agreement with Haywood Securities Inc.:
• Rendered Services Units: 2,900,000 units at a deemed price of $0.10 per unit (each unit = 1 common share + 1 warrant).
• Warrant Terms for Rendered Services Units: Exercise price $0.25; exercisable for 60 months. Hold period same as private placement securities.
• Consulting Fee: US $15,000 monthly (plus taxes), payable quarterly in “Consulting Fee Shares” issued at the closing price of Altura’s common share on the prior trading day.
• Approvals Required: Issuance of Rendered Services Units and Consulting Fee Shares subject to TSX Venture Exchange approval.

Notable Quotes

(No direct quotes were provided in the release.)