Vermilion Energy Inc. Sells Additional Common Shares of Coelacanth Energy Inc.

Executive Summary

• Vermilion Energy sold 26 million Coelacanth common shares for $19.76 million, reducing its stake from ~15.0% to ~10.2%.
• The transaction triggered an early‑warning filing under NI 62‑103 because the sale represented more than a 2 % change in ownership.
• Vermilion indicated the share sales are part of its debt‑reduction strategy and may adjust its Coelacanth holdings in the future, subject to consent limits.

Key Details

• Shares sold: 26,000,000 common shares of Coelacanth Energy Inc.
• Sale price: $0.76 per share; total consideration $19,760,000.
• Pre‑sale ownership: 80,179,104 shares (~15.0% of Coelacanth’s issued and outstanding common shares).
• Post‑sale ownership: 54,179,104 shares (~10.2% of issued and outstanding common shares).
• Regulatory trigger: Sale exceeded the 2 % threshold, requiring filing of an Early Warning Report under NI 62‑103.
• Purpose of sale: Align with Vermilion’s priority to reduce debt and enhance business resiliency.
• Future constraints: Vermilion may not sell more than 4,000,000 additional Coelacanth shares without Coelacanth’s consent per the investor rights agreement amendment.
• Potential future actions: Vermilion will continue reviewing its Coelacanth holdings and may increase or decrease its investment based on market, economic, and industry conditions.

Notable Quotes

(No direct quotes were provided in the release.)