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Obsidian Energy Announces Completion of Oversubscribed $25.9 Million Prospectus Financing

Globe Newswire - Thu Nov 18, 2021

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Nov. 18, 2021 (GLOBE NEWSWIRE) -- OBSIDIAN ENERGY LTD. (TSX – OBE, OTCQX – OBELF) ("ObsidianEnergy", the "Company", "we", "us" or "our") is pleased to announce it has closed its previously announced marketed public offering of subscription receipts (the "Subscription Receipts") at a price of $4.40 per Subscription Receipt for aggregate gross proceeds of approximately $25.9 million (the "Offering"). The Offering was conducted on a "best efforts" agency basis by Raymond James Ltd. and Stifel Nicolaus Canada Inc. (together, the "Agents"). The Agents exercised in full the 15 percent over-allotment option granted to them in conjunction with today's closing of the Offering.

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