Hammerhead secures up to $300 mln in Riverstone-led financing

Hammerhead Resources Inc, formerly known as Canadian International Oil Corp, has raised a preferred share equity commitment of up to $300 million led by U.S. energy private equity firm Riverstone Holdings, the company's largest shareholder. The deal will feature a rights offering to certain existing shareholders, allowing them to participate in the financing. Based in Calgary, Hammerhead is an oil and gas company operating in the liquids-rich, light oil plays of the Alberta Deep Basin. Led by President and CEO Scott Sobie, the company will use the funds raised to continue its organic growth strategy and further develop its resource base.

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