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CALGARY, AB, Aug. 3, 2022 /CNW/ - STAMPEDE DRILLING INC. (TSXV: SDI) ("Stampede", or the "Corporation") is pleased to announce it has entered into a purchase and sale agreement (the "Agreement") to acquire six drilling rigs and related assets (the "Acquisition") from a private company (the "Vendor") for total cash consideration of approximately $21.5 million (the "Purchase Price"). The Purchase Price will be funded by proceeds from a concurrent short form prospectus offering of common shares ("Offered Shares") at a price of $0.32 per Offered Share (the "Offering Price") for minimum gross proceeds of $22.5 million and maximum gross proceeds of $25 million (the "Offering"). The Acquisition and the Offering are expected to close on August 23, 2022, or such other date as may be agreed upon between the parties as described herein.