i3 Energy is an oil and gas development company focused on the North Sea. The funds will be used to fund the acquisition of producing oil & gas assets in western Canada.
Majid Shafiq, CEO of i3 Energy, commented: “Reduced availability of capital in the Canadian oil & gas sector has created potential to acquire high-quality assets at attractive valuations. We are delighted with the reception of our capital raising efforts in London, supported by WHIreland, to capture these exciting counter-cyclical opportunities.”
James Joyce, Director, Corporate Finance, commented: “WHIreland was delighted to act for I3 on such a significant acquisition, fundraising and readmission to AIM. The deal was transformational for i3 and sets it up as a significant player in Canada with a wide portfolio of producing assets to complement its North Sea assets.”