Daybreak Oil and Gas Inc (DBRM)

[futrcash]

Reabold Resources Shares Rise on Extended Date for Daybreak Equity Exchange Plan
4:19 am ET February 25, 2022 (Dow Jones) Print

By Joe Hoppe


Shares in Reabold Resources PLC rose Friday after the company said that the longstop date for its equity exchange agreement with Daybreak Oil and Gas Inc. has been extended to April 29.

Shares at 0914 GMT were up 0.04 pence, or 12% at 0.39 pence.

The investor in upstream oil-and-gas projects said that the deal will result in it becoming a major shareholder of Daybreak, a U.S. oil and gas operator, through the issue of up to 161.0 million new Daybreak shares to Reabold. After the transaction, Reabold will hold up to 46.5% of Daybreak's enlarged share capital.

In return, Daybreak will acquire Reabold California LLC, a subsidiary holding Reabold's license interests in California.


Write to Joe Hoppe at [e-mail]


(END) Dow Jones Newswires

February 25, 2022 04:19 ET (09:19 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

futr