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TORONTO, March 08, 2022 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSXV: SEI) (the “Company” or “Sintana”) is pleased to announce that it has closed its previously announced marketed public offering (the “Offering”) conducted by Echelon Capital Markets (the “Agent”) as lead agent and sole bookrunner, pursuant to which it issued an aggregate of 88,550,000 units (the “Units”) of the Company, at a price of $0.15 per Unit, to raise aggregate gross proceeds of $13,282,500 (including full exercise of an over-allotment option). The Offering was effected pursuant to a final short form prospectus of the Company dated February 24, 2022 (the “Final Prospectus”), and was upsized from the originally announced maximum base offering of $10 million due to strong demand. Each Unit consisted of one common share of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share for an exercise price of $0.25 until March 8, 2024, and will be listed for trading on the TSX Venture Exchange (“TSXV”) under the symbol SEI.WT at the open of trading on or about Friday, March 11, 2022.