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Financings

Cavvy Announces Warrant Exercise

By The Northwire Desk — AI Analysis Mar 12, 2026 · 17:19 PEA · 0.33 PIERIDAE ENERGY LIMITED
PEA · Price

Executive Summary

  • Cavvy Energy Ltd. announced that 2652862 Alberta Ltd., an affiliate of Erikson National Energy Inc., exercised its common share purchase warrants at $0.6836 per share.
  • The exercise generated approximately $3.5 million in gross proceeds, which will be used to repay existing debt.
  • As a result of the issuance of 5,120,235 new common shares, Cavvy’s total outstanding common shares now stand at 295,975,505.

Key Details

  • Warrants were originally issued to Erikson in 2019 as part of a debt financing arrangement when the company was known as Pieridae Energy Limited.
  • Exercise price: $0.6836 per share.
  • Gross proceeds from the exercise: ~$3.5 million.
  • New common shares issued upon exercise: 5,120,235.
  • Post‑exercise total common shares outstanding: 295,975,505.
  • Use of proceeds: repayment of debt.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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