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Barnwell Industries to Sell Canadian Oil and Gas Business for C$9 Million Plus 5% Royalty
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Barnwell Industries entered into a Share Purchase and Sale Agreement to sell its Canadian oil and natural gas business to 2798913 Alberta for a base price of C$9 million. Consideration includes C$4 million in cash and a 5% gross overriding royalty valued at C$5 million, with a call right allowing the buyer's affiliate to acquire the royalty for C$5 million post-closing. The deal requires shareholder approval and is targeted to close by Jan 18, 2027, subject to customary…
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