Lycos Energy Inc. (TSXV:LCX) has entered into a definitive agreement to acquire Durham Creek Exploration Ltd. for CAD 23.1 million on September 13, 2023. The Company will acquire DCEL for total consideration, prior to adjustments, of CAD 22.5 million, consisting of CAD 12.5 million in cash and 2.816901 million Lycos Shares at a deemed price of CAD 3.55 per Lycos Share. The Acquisition will be funded through a CAD 25 million bought deal equity financing. The Acquisition is expected to close on or before October 16, 2023, subject to the completion of the Offering and certain customary conditions and approvals, including the approval of the Court of King's Bench of Alberta and the TSX Venture Exchange. National Bank Financial Inc. is acted as financial advisor to Lycos. Stikeman Elliott LLP is acting as legal counsel to Lycos. Burnet, Duckworth & Palmer LLP is acting as legal counsel to DCEL.

Lycos Energy Inc. (TSXV:LCX) completed the acquisition of Durham Creek Exploration Ltd. on October 16, 2023. Transaction consisting of CAD 12.5 million in cash and 2,816,907 common shares of Lycos.