VANCOUVER, British Columbia, April 2, 2024 (GLOBE NEWSWIRE) — Birchtree Investments Ltd. (Birch or the Agency) (CSE: BRCH), an investment company with a long-term goal of divesting its investment assets at a profit, today announces the closing of its investment in Valkyrie Specialty Corporation (Valkyrie Speciality), previously announced on March 24, 2024.
As a result, Birchtree now holds 795,926 shares of common stock in Valkyrie Specialty’s parent company (Valkyrie Holdco) representing, on an undiluted basis, 30.6% of the issued and outstanding shares of Valkyrie Holdco, and Birchtree has the contractual right to appoint a director of Valkyrie Holdco so long as Birchtree owns or controls at least 500,000 of the issued shares and shares in circulation of Valkyrie Holdco (subject to adjustments pursuant to customary corporate actions, if applicable). Pursuant to the transactions, Birchtree invested C$499,500 in Valkyrie Holdco and issued 5,000,000 Valkyrie Holdco common shares of the Company subject to a statutory holding period of four months and one day.
Speaking of Valkyrie Speciality
Valkyrie Specialty is a Texas-based provider of well cleanup and restimulation services to help oil and gas companies recover remaining resources, remove previously used toxic chemicals and remediate fields for future use. Valkyrie Specialty’s treatments and services improve the quality and volume of oil and gas production in underperforming wells and bring non-producing wells back into service by removing obstacles to extraction. Valkyrie Specialty has been in operation since February 2023, and while it is not yet cash flow positive, it is reporting first five quarters of unaudited revenue of $2.478 million to date. For more information, see https://valkyriespecialty.com/.
About Birchtree
Birchtree is an investment company with the long-term goal of divesting its investment assets at a profit. For further information, please see Birchtree’s continuous disclosure documents available under the Company’s SEDAR+ profile at www.sedarplus.com.
For further information, contact:
Vitali SavitskiChief Executive OfficerBirchtree Investments Ltd.Tel: (416) 300-0625Email: birchtreeinvestmentsltd@gmail.com
Readers are cautioned that the financial information regarding Valkyrie Specialty disclosed herein has not been verified and is provided by Valkyrie Specialty.
Neither the Canadian Stock Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Source: Birchtree Investments Ltd.