Prairie Provident Secures Initial $10 Million Subscription in Rights Offering

The Calgary-based company reaches minimum subscription level with significant investment from principal shareholder PCEP Canadian Holdco, LLC.

Prairie Provident Resources Inc. has closed the initial $10 million subscription under its $13.2 million rights offering.
Principal shareholder PCEP Canadian Holdco, LLC acquired 400 million common shares, representing 75.5% of the rights offering.
The subscription price was partially offset by a prior $2.3 million advance, with the remaining $6.87 million paid in cash.
The rights offering remains open until October 28, 2024, with trading on the Toronto Stock Exchange under the symbol 'PPR.RT'.
PCEP's investment increases its ownership to approximately 84.3% of Prairie Provident's outstanding common shares.