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Financings

Cavvy Announces Warrant Exercise

By The Northwire Desk — AI Analysis Mar 12, 2026 · 17:19 CVVY · 1.3 CAVVY ENERGY LTD COMMON SHARES
CVVY · Price

Executive Summary

  • Cavvy Energy Ltd. announced that 2652862 Alberta Ltd., an affiliate of Erikson National Energy Inc., exercised its common share purchase warrants, generating $3.5 million in gross proceeds.
  • The warrants were exercised at $0.6836 per share, resulting in the issuance of 5,120,235 new common shares.
  • Proceeds will be used to repay existing debt, improving the company’s balance‑sheet position; total outstanding common shares now equal 295,975,505.

Key Details

  • Warrant Origin: Issued in 2019 as part of a debt financing arrangement when Cavvy was known as Pieridae Energy Limited.
  • Exercise Price: $0.6836 per share.
  • Gross Proceeds: Approximately $3.5 million.
  • Shares Issued: 5,120,235 common shares issued to the warrant holder.
  • Resulting Share Count: 295,975,505 common shares outstanding post‑exercise.
  • Use of Proceeds: Entire amount earmarked for repayment of existing debt.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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