CALGARY, AB, June 20, 2022 /CNW/ – Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company“) announces that its board of directors (the “Board“) has approved the commencement of a substantial issuer bid (the “Offer“) pursuant to which the Company will offer to purchase from shareholders for cancellation up to $65 million (equivalent to US$50 million) of its outstanding common shares (the “Shares“). The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from $11.00 to $13.00 per Share.
The Company plans to fund repurchases of Shares through available cash on … Continue Reading