Riverstone Holdings and JOG Capital Lead C$305 Million Financing Round for Vesta Energy
Summary
CALGARY, Alberta and NEW YORK, May 17, 2017 /PRNewswire/ -- Vesta Energy Corp. ("Vesta" or the "Company") today announced it has entered into definitive agreements with respect to a C$295 million equity financing round (the "Transaction") priced at C$4.50/share, co-led by energy private equity firms Riverstone Holdings LLC ("Riverstone") and JOG Capital ("JOG"). Mr. Cook is joined on the management team by Paul Smith (CFO), Grant Rabe (COO), Jenny Ngo (CAO) and Dermot OConnor (VP Exploration). The Transaction is anticipated to close on May 26, 2017, and will provide Vesta with sufficient capital to execute on an accelerated development program across its extensive land base. Curtis Cook, Founder and CEO, said: "We are excited to partner with Riverstone and to welcome Olivia Wassenaar and Denzil West to the Vesta Board of Directors. Riverstone conducts buyout and growth capital investments in the E&P, midstream, oilfield services, power, and renewable sectors of the energy industry.