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Prairiesky Royalty

Address Suite 1700 350 7th Ave SW, Calgary, AB, T2P 3N9, CA
Phone 587-293-4000
Fax 587-293-4001
Website prairiesky.com

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Canadian Natural Resources and Prairiesky Royalty announce combination of royalty businesses and concurrent Prairiesky financing

Canadian Natural Resources Limited and PrairieSky Royalty Ltd. are pleased to announce that they have entered into an agreement to combine their royalty businesses, unifying two of the largest fee simple mineral title and royalty positions in Western Canada into a single Canadian enterprise. Through the transaction, PrairieSky will acquire a substantial portion of Canadian Natural’s royalty assets for an aggregate purchase price of $1.8 billion, consisting of $680 million in cash and the issuance of approximately 44.4 million PrairieSky common shares at an ascribed price of $25.20 per common share.