NASDAQ:CG 10 August 2025 - 10 March 2026

In a significant shake-up for the Canadian oil and gas sector, Cygnet Energy – a privately held exploration and production company – has agreed to buy publicly traded Kiwetinohk Energy Corp. in an all-cash acquisition. Announced on October 28, 2025, the definitive arrangement agreement will see Cygnet pay C$24.75 per share for all Kiwetinohk common sharesreuters.comreuters.com. This values the transaction at approximately C$1.4 billion, just shy of US$1 billion. The takeover will be executed via a court-approved Plan of Arrangement under Canadian law and is expected to close by late December 2025, assuming regulatory and shareholder approvals are obtainedreuters.com. Kiwetinohk’s board of directors has unanimously endorsed the offer as fair and in the best interest of shareholders, after a months-long sale process. “After reviewing all of our available options… the Board has determined that the arrangement is the best alternative in the current market,” said Pat Carlson, Kiwetinohk’s CEO, calling the deal a “successful conclusion” of the company’s strategic review aimed at maximizing shareholder valueboereport.comboereport.com. A special shareholder meeting is scheduled for mid-December to vote on the deal, where two-thirds support is required. Given that nearly 80% of shares are already pledged in favorboereport.com, the outcome is essentially secured barring