08:52 AM EDT, 03/12/2024 (MT Newswires) -- Sintana Energy Inc. ( SEUSF ) said Tuesday that it generated $22.5 million in additional cash resources from the exercise of its traded warrants last Friday.

The company said 99% or 91.6 million warrants of the 92.9 million warrants issued were exercised at $0.25 per share. The warrants were issued in 2022.

"The company's progress over the past 24 months and its resulting impact on our share price performance continue to demonstrate the timeliness of our entry into Namibia." Sintana CEO Robert Bose said. "The near complete exercise of the warrants are a further testament to that."

Sintana lost 4.5% yesterday.