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Freehold Royalties to Acquire Royalty Production; Shares Edging Lower

Freehold Royalties Ltd. (FRU.TO) edged off 4 cents to $19.59 from yesterday's $19.63 close, but it started today's session higher at $19.72.

Today, the company announced it has entered into a purchase and sale agreement to acquire royalty interests on certain producing and non-producing lands in Alberta, British Columbia, and Saskatchewan for approximately $50.2 million. The company said the acquisition "supports our strategy of focusing on oil and gas royalties and is accretive on a debt-adjusted basis."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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