Strathcona Resources Ltd. Announces Increased Public Float as a Result of Partial Disposition of Common Shares by Waterous Energy Fund | PR Newswire [Video]

, /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) today announced that Waterous Energy Fund Co-investment (Canadian) LP and Waterous Energy Fund Co-investment (International) LP (together, the “WEF Funds”), two of the limited partnerships comprising Waterous Energy Fund (“WEF”), have completed a share pass-through transaction resulting in the disposition of 24,010,576 common shares of Strathcona, representing approximately 11.2% of the issued and outstanding common shares of Strathcona, by the WEF Funds to their limited partners (the “Transaction”).

Following completion of the Transaction, the ownership of the issued and outstanding common shares of Strathcona by limited partnerships comprising WEF collectively decreased from approximately 90.8% to approximately 79.6%, resulting in public float of over 20%.

The Transaction was comprised of a series of reorganizational steps and the number of issued and outstanding shares of Strathcona remains the same following completion of the Transaction. The Transaction did not require shareholder …