BRIEF-Freehold Royalties Ltd to acquire royalty production, mineral title lands for $165 mln

Mon May 2, 2016 5:22pm EDT
 
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May 2 (Reuters) - Freehold Royalties Ltd

* Freehold Royalties Ltd. Enters into agreement to acquire royalty production and mineral title lands for $165 million, provides increased 2016 production guidance and announces equity financing

* Transaction will be funded by a $165 million bought deal equity financing

* Freehold Royalties Ltd says has increased its 2016 average production guidance to 11,400 boe/d

* Transaction is expected to be approximately 2% accretive to 2016 funds from operations per share

* Assuming closing of transaction, freehold has increased its 2016 average production guidance to 11,400 boe/d

* Expects to use net proceeds from financing to complete transaction, remainder to pay down portion of outstanding indebtedness

* Entered into a definitive agreement with Husky Energy Inc. To acquire a suite of royalty production and lands Source text for Eikon: Further company coverage: (Bengaluru newsroom)