logo
logo

B-32 Exploration Closes $20.6 Million Financing

Jun 02, 2022•over 3 years ago

Amount Raised

$20.6 Million

Calgary

Description

B-32 Exploration Ltd. (the "Company") is pleased to announce the final closing of a series of non-brokered financings totaling $20.6 million. This last tranche was over-subscribed by over $1 million and brings the total funds raised since inception to $28 million. Larry Evans, Chairman and Chief Executive Officer, commented "This is an amazing feat considering the difficult market conditions for emerging private companies and is a testament to the quality of our dominant Duvernay oil position in the Greater Kaybob Basin."

Company Information

Company

B 32 Exploration Ltd

Location

Calgary, Alberta, Canada

About

B-32 Exploration is an emerging private energy company focused exclusively on the Duvernay unconventional black oil window. The company has amassed over 280 sections in a northern extension of the prolific Kaybob basin where Murphy Oil, Hitic Energy and most recently GMT Exploration have experienced exceptional results. With the acreage primarily located on farmland with existing energy infrastructure in place the company is positioned for leading capital and operating cost efficiencies. The company is led by an experienced management team with a successful track record of creating significant shareholder value. SOURCE B-32 Exploration Ltd.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech