Frontera May Purchase approximately 3,502,962 Typical Shares Representing Roughly 5% of the Business’s Provided and Exceptional Typical Shares
CALGARY, AB, July 15, 2025/ PRNewswire/ – Frontera Energy Corporation FEC (“ Frontera” or the “ Business“) reveals that the Toronto Stock Market (the “ TSX“) has actually accepted its notification to start a typical course company quote (the “ NCIB“) for its typical shares (the “ Typical Shares“).
Pursuant to the NCIB, Frontera might acquire approximately 3,502,962 Typical Shares throughout the 12-month duration starting July 18, 2025, and ending July 17, 2026, representing roughly 5% of the Business’s released and impressive Typical Shares as at July 15, 2025 As at July 15, 2025, there were 70,059,243 Typical Shares released and impressive. There are no individuals acting collectively or in performance with the Business in regard of the NCIB.
The typical day-to-day trading volume of the Typical Shares (as computed in accordance with the TSX guidelines) was 48,188 Typical Shares over the duration in between January 1, 2025 and June 30, 2025 As a result, day-to-day purchases through the centers of the TSX will be restricted to 12,047 Typical Shares, besides block purchase exceptions.
Frontera thinks that, from time to time, the marketplace cost of its Typical Shares might not totally show the hidden worth of its organization, future potential customers and monetary position. In such situations, Frontera might acquire for cancellation impressive Typical Shares, thus benefitting all investors by increasing the hidden worth of the staying Typical Shares.
In connection with its NCIB, Frontera has actually participated in an automated share purchase strategy (the “ Strategy“) with its designated broker, BMO Nesbitt Burns Inc. (“ BMO“), to assist in the purchase of Typical Shares under the NCIB. The Strategy enables purchases by the Business of its Typical Shares at any time, consisting of, without constraint, when the Business would normally not be allowed to make purchases due to regulative limitation or self-imposed blackout durations. Purchases will be made by BMO based upon the specifications recommended by the TSX and the regards to the celebrations’ written contract. The Strategy has actually been pre-cleared by the TSX and will be carried out at the time the NCIB begins.
Purchases based on the NCIB will be performed pursuant to free market deals through the centers of the TSX or alternative Canadian trading systems, if eligible, by BMO on behalf of Frontera in accordance with the Strategy and suitable regulative requirements. The cost to be paid by Frontera for any Typical Share will be the marketplace cost at the time of acquisition, plus brokerage charges, or such other cost as the TSX might allow. The Typical Shares acquired by Frontera under the NCIB will be gone back to treasury and cancelled.
The Business’s indenture, dated since June 21, 2021, as supplemented on April 11, 2023 and June 11, 2025, pursuant to which US$ 320 million aggregate principal quantity of 7.875% senior notes of the Business due 2028 are presently released (the “ Indenture“), enforces specific constraints on the Business’s capability to buy its Typical Shares. Nevertheless, based upon other arrangements of the Indenture, the Business is not presently limited from finishing the purchases under the NCIB.
Under the regular course company quote which ended on November 20, 2024, Frontera was licensed to buy for cancellation 3,949,454 Typical Shares and Frontera acquired for cancellation an overall of 1,552,100 Typical Shares in between November 21, 2023 and November 20, 2024, at a volume weighted typical cost of C$ 833 per Typical Share. Purchases were performed pursuant to free market deals through the centers of the TSX or alternative Canadian trading systems, by BMO, on behalf of the Business in accordance with an automated share purchase strategy and suitable regulative requirements.
About Frontera:
Frontera Energy Corporation is a Canadian public business associated with the expedition, advancement, production, transport, storage and sale of oil and gas in South America, consisting of associated financial investments in both upstream and midstream centers. The Business has a varied portfolio of possessions which includes interests in 22 expedition and production blocks in Colombia, Ecuador and Guyana, and in pipeline and port centers in Colombia Frontera’s typical shares are noted for trading in the Toronto Stock Market under the ticker sign “FEC.” The Business is dedicated to performing organization securely and in a socially and ecologically accountable way.
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Advisories:
Cautionary Note Worrying Forward-Looking Statements
This press release consists of positive declarations. All declarations, besides declarations of historic reality, that deal with activities, occasions or advancements that the Business thinks, anticipates or expects will or might happen in the future (consisting of, without constraint, the acquisition of Typical Shares under the NCIB, the application of the Strategy, the way of purchases under the NCIB, the cost to be spent for the Typical Shares acquired under the NCIB, and the go back to treasury and cancellation of such Typical Shares) are positive declarations.
These positive declarations show the existing expectations or beliefs of the Business based upon details presently readily available to the Business. Positive declarations undergo a variety of dangers and unpredictabilities that might trigger the real outcomes of the Business to vary materially from those talked about in the positive declarations, and even if such real outcomes are recognized or considerably recognized, there can be no guarantee that they will have the anticipated repercussions to, or results on, the Business. Elements that might trigger real outcomes or occasions to vary materially from existing expectations consist of, to name a few things: U.S. trade tariffs and intensifying stress with China; the effect of the Russia– Ukraine dispute and dispute in the Middle East; actions of the Company of Petroleum Exporting Countries (OPEC+); liabilities fundamental with the expedition, advancement, exploitation and improvement of oil and gas; unpredictability of price quotes of capital and operating expense, production price quotes and approximated financial return; unpredictabilities related to approximating oil and gas reserves; failure to develop approximated resources or reserves; volatility in market value for oil and gas; change in currency exchange rates; inflation; modifications in equity markets; understandings of the Business’s potential customers and the potential customers of the oil and gas market in Colombia and other nations where the Business runs or has financial investments; unpredictabilities associating with the schedule and expenses of funding required in the future; the Business’s capability to finish tactical efforts or deals to improve the worth of its securities and the timing thereof; the Business’s capability to gain access to extra funding; the capability of the Business to preserve its credit rankings; the capability of the Business to satisfy its monetary responsibilities and minimum dedications, fund capital investment and adhere to covenants consisted of in the contracts that govern insolvency; political advancements in the nations where the Business runs; the unpredictabilities associated with translating drilling outcomes and other geological information; timing on invoice of federal government approvals; the failure of the Business to reach an arrangement with the Federal government of Guyana in regard of the Business and its joint endeavor partner’s interests in, and the petroleum prospecting license for, the Corentyne block; and the other dangers divulged under the heading “Threat Elements” and in other places in the Business’s yearly details type dated March 10, 2025 submitted on SEDAR+ at www.sedarplus.ca.
Any positive declaration speaks just since the date on which it is made and, other than as might be needed by suitable securities laws, the Business disclaims any intent or responsibility to upgrade any positive declaration, whether as an outcome of brand-new details, future occasions or outcomes or otherwise. Although the Business thinks that the presumptions fundamental in the positive declarations are affordable, positive declarations are not warranties of future efficiency and appropriately excessive dependence need to not be placed on such declarations due to the fundamental unpredictability therein.
SOURCE Frontera Energy Corporation