Carcetti Capital is pleased to announce that further to its news release on December 19, 2022, the Company has completed the reorganization of the Company's share capital to permit the Company to pay a special cash distribution of $0.03 per share to shareholders of record as at December 23, 2022. Shares traded in the market subsequent to the record date of December 23, 2022 and up to the close of trading on December 30 [...]
Cub Energy Inc. announces the results of its Annual General and Special Meeting of Shareholders held on December 19, 2022. At the Meeting, a total of 190,246,069 shares were voted representing approximately 60.6% of the total shares issued and outstanding. The following items were approved and more particularly described in the management information circular filed on SEDAR on November 18, 2022: Resolution % Voted for [...]
Cub Energy Inc. , announces that its board of directors has determined to seek the approval of the holders of its common shares to complete a reorganization of its share capital to permit the Company to pay a special distribution to shareholders of up to C$0.03 per Share , subject to final cost estimates and foreign exchange rates, in the course of an amendment of the Company's articles and an exchange of outstanding [...]
Cub Energy Inc. , announced today its unaudited financial and operating results for the six months ended June 30, 2022. All dollar amounts are expressed in United States Dollars unless otherwise noted. Patrick McGrath, CEO of Cub said: "Cub finished the quarter ended June 30, 2022 with $8,743,000 cash on hand and working capital of $7,360,000. Subsequent to the quarter end, Cub successfully divested its last asset in [...]
Cub Energy Inc. announces that it has closed the sale of its 100% interest in 3P International Energy Ltd and its wholly-owned Ukraine subsidiary, Tysagaz LLC as previously announced on July 29, 2022 and July 12, 2022. The sale was for a nominal consideration of $1 and the buyer assumed all of 3P's and Tysagaz' liabilities. The buyer group is two officers of the Company, Eugene Chaban, the Company's Chief Financial [...]
Cub Energy Inc. announces that it has signed a definitive Share Sale and Purchase Agreement for the sale of its 100% interest in 3P International Energy Ltd and its wholly-owned Ukraine subsidiary, Tysagaz LLC as previously announced on July 12, 2022. The sale is for nominal consideration of $1 and the buyer assuming all of 3P's and Tysagaz' liabilities. The buyer group is two officers of the Company, Eugene Chaban, the [...]
Cub Energy Inc. announces that it has entered into a letter agreement dated July 8, 2022 to sell its 100% interest in 3P International Energy Ltd and its wholly-owned Ukraine subsidiary, Tysagaz LLC . The sale is for a nominal consideration of $1 and the buyer assuming all of 3P's and Tysagaz' liabilities including the Ukraine bank debt that is guaranteed by Cub and all provisions for reclamation costs. Since the [...]
Cub Energy Inc. , a Ukraine-focused energy company, announced today its unaudited financial and operating results for the three months ended March 31, 2022. All dollar amounts are expressed in United States Dollars unless otherwise noted. Patrick McGrath, CEO of Cub said: "Cub finished the quarter ended March 31, 2022 with $8,916,000 cash on hand and working capital of $7,593,000. This was a result of the corporate [...]
Cub Energy Inc. , a Ukraine-focused energy company, announced today its audited financial and operating results for the year ended December 31, 2021. All dollar amounts are expressed in United States Dollars unless otherwise noted. The audited financials includes results from KUB Holdings Limited and its 100% owned operating Ukraine subsidiary, KUB-Gas LLC , which Cub had a 35% equity ownership interest and Tysagaz LLC [...]
Cub Energy Inc. announces that the Alberta Securities Commission has accepted the Company's application for a temporary management cease trade order under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults , which prohibits trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer until such time as the Required Filings and all continuous disclosure [...]
Cub Energy Inc. announces it has filed the results of its independent reserves evaluations as of December 31, 2021 on its oil and gas properties in Ukraine. The evaluation was performed on the Company's 100% working interest in the RK Field held by Tysagaz LLC and was conducted by GLJ Ltd. , an independent qualified reserves evaluators and auditor . The Reserve Report is effective December 31, 2021 and does not include [...]
Cub Energy Inc. comments on the newly enacted law concerning gas royalty rates in Ukraine. The Ukraine Parliament passed a new law increasing the royalties on natural gas production. The law was published on March 22, 2022 and entails a partially sliding scale royalty rate. The new royalty rates are retroactive to March 1, 2022 and shall remain effective throughout the military and/or emergency state. The royalty rates [...]
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