TENAZ ENERGY CORP. ANNOUNCES CLOSING OF SENIOR UNSECURED NOTES OFFERING

CALGARY, AB, Nov. 14, 2024 /CNW/ - Tenaz Energy Corp. ("Tenaz", "our") (TSX: TNZ) is pleased to announce  closing of its previously announced private placement offering (the "Offering") of $140 million aggregate principal amount of Senior Unsecured Notes due 2029 (the "Notes"). The Notes replace the $90 million delayed-draw term loan provided by National Bank of Canada to facilitate the acquisition of NAM Offshore B.V. ("NOBV"). Completion of the Offering provides significant liquidity to pursue our international M&A strategy as well as funding the closing of the NOBV acquisition. National Bank Financial Inc. served as sole bookrunner and placement agent in connection with the Offering and is acting as financial advisor to Tenaz with respect to the NOBV acquisition.