NuVista closes equity financings

On August 30, 2018, NuVista Energy Ltd. ("NuVista") closed its previously announced offering of 47,415,801 subscription receipts at a price of C$8.10 per receipt to a syndicate of underwriters led by CIBC Capital Markets, Peters & Co. Limited and RBC Capital Markets, for aggregate gross proceeds of C$384 million. The offering included 20,990,000 subscription receipts will be sold pursuant to a prospectus offering and 26,425,801 receipts by way of a private placement to certain institutional investors.

Additionally, NuVista also issued 2,756,880 CDE "flow through" common shares at a price of C$9.05 per share for net proceeds of approximately C$24 million, of which 447,280 CDE common shares were acquired by certain directors, officers and employees of NuVista on a non-brokered basis.

The net proceeds from the offering were used to fund in part its C$625 million acquisition of the Cenovus Pipestone Partnership, which holds assets in the Pipestone area of Northwest Alberta. The acquisition closed on September 6, 2018.

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in Western Canadian Sedimentary Basin.

Further information can be found on Globe Newswire's website.