02:09 PM EDT, 08/06/2025 (MT Newswires) -- New Stratus Energy ( RDRIF ) on Wednesday said it will raise $13.8 million through an above-market non-brokered private placement of shares.

The private placement will involve the issuance of around 25.09-million shares at an above-market price of $0.55 each. A single purchaser is expected to buy all of the shares to be issued under the offering as a strategic investment and pursuant to the terms of a non-binding letter of intent.

The purchaser currently holds no shares of New Stratus Energy ( RDRIF ).

New Stratus Energy ( RDRIF ) plans to use the proceeds to fund the first and second stage investments as consideration pursuant to its farm-in transaction with Vultur Oil and for general corporate purposes.

The company's shares were last seen up $0.025 to $0.48 on the TSX Venture Exchange.

Price: 0.48, Change: +0.03, Percent Change: +5.49