Highlights

  • Amalgamation combines Saturn and two wholly owned subsidiaries into one entity
  • Corporate structure change takes effect from January 1, 2026
  • No action required from shareholders following the transaction

Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) has announced that it has completed a vertical short-form amalgamation with two of its wholly owned subsidiaries, effective January 1, 2026. The amalgamation involves 1777241 Alberta Ltd., formerly CapitalEnergy Corporation, and Clearview Resources Ltd.

Details of the Amalgamation

According to the company, the amalgamation brings Saturn and its two subsidiaries together under a single corporate entity. This internal restructuring results in Saturn holding its asset base and development activities directly, rather than through separate subsidiary entities. The transaction was completed through a vertical short-form amalgamation, a process available under applicable corporate legislation for parent companies and their wholly owned subsidiaries.

The company stated that the revised structure is intended to simplify its corporate organization. As a result of the amalgamation, Saturn indicated that certain corporate and operational expenses are expected to be reduced through the elimination of duplicate structures and administrative processes.

Impact on Shareholders

Saturn clarified that the amalgamation does not require any action from existing shareholders. Common shares outstanding prior to the transaction remain unchanged, and no share certificates have been replaced or amended as a result of the restructuring. The rights of shareholders are not affected by the completion of the amalgamation.

Documentation related to the transaction, including the certificate of amalgamation, has been filed and is publicly accessible through the company’s profile on SEDAR+.

Operational Context

Following the amalgamation, Saturn’s operations, assets, and development programs in Saskatchewan and Alberta are now managed within a single legal entity. The company operates as a light oil-weighted producer with activities focused on these two provinces.

The consolidation does not alter Saturn’s producing assets or its geographic footprint. Instead, it represents an internal reorganization aimed at aligning the company’s legal structure with its operating activities.

Company Overview

Saturn Oil & Gas Inc. is a Canadian energy company engaged in the development of light oil-weighted assets in Saskatchewan and Alberta. The company’s operations include producing properties and undeveloped land with drilling potential across multiple formations. Saturn’s shares trade on the Toronto Stock Exchange under the symbol SOIL and on the OTCQX market under OILSF.

The completion of the amalgamation marks an administrative update to Saturn’s corporate structure, consolidating its subsidiaries into the parent company while leaving its publicly traded share structure unchanged.

SOIL closed at CAD 2.43 on December 31, 2025.