Grafton Ventures and 763997 Alberta (formerly Target Capital) close brokered private placement

On March 15, 2024, 763997 Alberta Ltd. (formerly Target Capital Inc.) ("TCI") and Grafton Ventures Energy Holdings Corp. ("Grafton") announced the closing of a brokered private placement of 24,333,901 subscription receipts of Grafton.

The brokered private placement was made in accordance with the terms of an agency agreement among Grafton, Eight Capital, as the lead agent, Haywood Securities Inc., ATB Securities Inc., Canaccord Genuity Corp., and Raymond James Ltd.

Proceeds of the private placement will be held in escrow until the satisfaction of certain conditions related to the three-cornered amalgamation among TCI, Grafton and 2595456 Alberta Ltd., a wholly-owned subsidiary of TCI. Upon completion of the amalgamation, TCI will carry on the oil and gas exploration and production business of Grafton under the name "Westgate Energy Inc." ("Westgate").

Further information can be found on Canada Newswire’s website.

Westgate will be an oil and gas exploration and production business, focused on the emerging Mannville Stack fairway located in East-Central Alberta and West Central Saskatchewan.