Rising Star Resources raises $25 mln from Lex Capital, 32 Degrees
Calgary-based oil and gas company Rising Star Resources Ltd has closed an initial financing of $25 million. The investors were Canadian energy private equity firms Lex Capital and 32 Degrees Capital. Rising Star said the deal was done concurrently with a private placement, together generating total proceeds of about $40 million. With the investment, Lex Capital's Craig Lothian and Dean Popil and 32 Degrees' Mitch Putnam joined the company's board of directors. Rising Star also announced it acquired conventional light oil and gas assets, along with associated infrastructure, in the Peace River region of Alberta. The purchase price was $30 million.
11 July 2016•4 mins read
