PE-backed Artis Exploration secures new financing

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By Ted Liu

Artis Exploration Ltd., a Calgary based private Exploration & Production (E&P) company, has raised $42.68 million from 47 Canadian from Alberta, Saskatchewan, BC and Ontario, with 99% of the investment from Alberta and Saskatchewan investors.

Burnet, Duckworth & Palmer LLP acts as legal counsel to Artis Exploration.

Artis Exploration is backed by private equity firms Annapolis Capital, 32 Degrees Capital, and asset manager Canoe Financial.

Peter Williams, Managing Partner & CEO of Annapolis Capital, Mark Poelzer, Managing Partner of Annapolis Capital, and Larry G. Evans, Managing Partner of 32 Degrees Capital, serve as directors on Artis’ seven member board that also include James Riddell, President & CEO of Paramount Resources, Rafi G. Tahmazian, Senior Portfolio Manager & Director of Canoe Financial, Bruce Chernoff, founder of Canoe Financial, and Artis CEO Darryl Metcalfe.

photo credit: anita_starzycka via pixabay