Spartan Delta Corp. Virtually Opens the Market

TORONTO, Oct, 15, 2021 /CNW/ - Fotis Kalantzis, President, Chief Executive Officer and Director, Spartan Delta Corp. ("Spartan'' or the "Company") (TSX: SDE) and his team joined Berk Sumen, Head of TSX Company Services, TMX Group, to celebrate the Company's graduation to Toronto Stock Exchange and to open the market.

Spartan Delta is a new energy company led by an experienced team with a record of efficient capital discipline and value creation through consolidation and development.  Sixteen months ago, it was a 250 boe/d company listed on the Venture Exchange.  Today, after 8 accretive acquisitions and development drilling, it is producing over 60,000 boe/d of oil, natural gas and liquids, listed on the TSX.

Spartan Delta has dominant positions in two core areas, the Montney and Deep Basin, yielding some of Canada's most prolific economics. The Deep Basin with >425 drilling locations with robust economics and infrastructure footprint is Spartan's Free Funds Flow engine. Post Velvet acquisition, Spartan Delta is the dominant player in Canada's Montney oil window with 450,000 acres of land and >1075 drilling locations providing growth for the next decade. The Company has strong financial sustainability with prudent leverage and strong Funds Flow across a range of commodity prices. Spartan's three-year development plan is focused on organic growth and Free Cash Flow generation.

Spartan Delta is a sustainable modern company with a clean operating platform and no liability overhang; all the assets acquired to date are new with minimal legacy environmental liabilities and new infrastructure. It has built strong Indigenous partnerships for sustainable and responsible resource development.

"We are very excited today to start a new chapter in the growth of Spartan Delta with the official listing of our company on the TSX", said Fotis Kalantzis, President and Chief Executive Officer of Spartan.

For Market Openings: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is produced at the TMX Broadcast Centre and sent live to the TOC. To pick up the feed via the Dejero network, please contact [email protected]. The client feature video will begin playing on the TMX media wall at approximately 9:27 a.m. ET and the markets will open with the sound of a siren at 9:30 a.m. ET

Date:   Friday October 15, 2021
Time:   9:00am - 9:30am
Place:  Virtually Broadcast

SOURCE Toronto Stock Exchange