viewi3 Energy PLC

i3 Energy PLC - Completion of Gain Acquisition and Harvard Sale

RNS Number : 0111Y
i3 Energy PLC
04 September 2020

i3 Energy plc

("i3" or the "Company")

Completion of Gain Acquisition and Harvard Sale

i3 Energy plc is pleased to announce that, following the completion of the re-admission as set out in the announcement of 11th August 2020, the Company has now completed the acquisition of all the petroleum and infrastructure assets of Gain Energy Ltd for CAD$80 million (c.US$58.8 million). The Company has also completed the sale of such petroleum and infrastructure assets held by Gain Energy Ltd which are located in Saskatchewan, to Harvard Resources Inc for CAD$45 million (cUS$33 million).

Capitalised terms used in this announcement have the meanings given to them in the announcement made and admission document published on 11th August 2020 unless the context provides otherwise.



i3 Energy plc

Majid Shafiq (CEO) / Graham Heath (CFO)

c/o Camarco

Tel: +44 (0) 203 781 8331

WH Ireland Limited (Nomad and Joint Broker)

James Joyce, James Sinclair-Ford

Tel: +44 (0) 207 220 1666

Canaccord Genuity Limited (Joint Broker)

Henry Fitzgerald- O'Connor, James Asensio

Tel: +44 (0) 207 523 8000


Mirabaud Securities Limited (Joint Broker)

Peter Krens

Tel: +44 (0) 203 167 7221



Georgia Edmonds, James Crothers

Tel: +44 (0) 203 781 8331


The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Quick facts: i3 Energy PLC

Price: 4.6

Market: AIM
Market Cap: £32 m

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


i3 Energy team detail £30mln fundraise and Canada growth strategy

i3 Energy PLC's (LON:I3E) Majid Shafiq and Graham Heath speak to Proactive's Andrew Scott soon after confirming they've raised at least £29mln, with a further £1mln subject to regulatory approval. The company last week struck a deal to concurrently sell a package of the Gain assets to a third...

on 11/8/20

3 min read