GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Vitesse Energy, announced today the completion of its previously announced acquisition of Lucero Energy Corp. The Arrangement was approved by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero received the approval of the Court of King’s Bench of Alberta on March 6, 2025.
“We are pleased to complete the acquisition of Lucero, which is expected to increase our dividend and will provide additional liquidity to further our ability to make accretive acquisitions,” said Bob Gerrity, Vitesse’s Chairman and Chief Executive Officer. “We are grateful for the hard work and dedication of the Vitesse and Lucero employees, who have been working diligently to help us finalize this acquisition.”
TRANSACTION DETAILS
Pursuant to the Arrangement Agreement between Vitesse and Lucero, dated December 15, 2024, at the closing of the Arrangement each common share of Lucero (the “Lucero Shares”) has the right to receive 0.01239 of a share of Vitesse common stock (the “Vitesse Shares”). The Vitesse Shares to be issued to holders of Lucero Shares will trade on the New York Stock Exchange. With the completion of the Arrangement, Lucero Shares will be delisted from the TSX Venture Exchange and the OTCQB Market.
GOVERNANCE AND LEADERSHIP
Effective with the closing of the Arrangement, M. Bruce Chernoff and Gary D. Reaves have been appointed to Vitesse’s Board of Directors. The additions expand Vitesse’s board to a total of nine directors. Vitesse’s leadership team will continue to serve in their respective capacities in the Company.
ABOUT VITESSE ENERGY, INC.
Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests predominantly as a non-operator in oil and gas wells drilled by leading US operators.
