CALGARY, AB, June 30, 2026 /CNW/ - Sentgraf Enterprises Ltd. ("Sentgraf") advises that its equity interest in AKITA Drilling Ltd. ("AKITA") changed on June 30, 2026 following an amendment to the articles of AKITA to eliminate its dual class share structure (the "Share Reorganization"). Pursuant to the Share Reorganization, each Class A Non-Voting Share of AKITA (each, a "Class A Share") changed into one Class B Common Share of AKITA (each, a "Class B Share"), following which the Class B Shares were renamed "Common Shares". The Share Reorganization was undertaken in connection with AKITA's previously announced acquisition of Fox Drilling Limited Partnership and its general partner, Fox Drilling Inc., from Paramount Resources Ltd. ("Paramount") in consideration for the issuance by AKITA to Paramount of 19,264,270 Common Shares (collectively with the Share Reorganization, the "Transaction").

Immediately prior to the Transaction, Sentgraf owned and had control over (i) 4,474,258 Class A Shares, representing approximately 12% of the outstanding Class A Shares; and (ii) 1,426,790 Class B Shares, representing approximately 86% of the outstanding Class B Shares. Pursuant to the Transaction: (i) Sentgraf's 4,474,258 Class A Shares were changed into 4,474,258 Common Shares; and (ii) Sentgraf's 1,426,790 Class B Shares were redesignated as 1,426,790 Common Shares. 

Immediately following the Transaction, Sentgraf owned and had control over 5,901,048 Common Shares, representing approximately 10% of the outstanding Common Shares. Sentgraf holds its Common Shares for investment purposes and may, depending on market and other conditions, acquire additional Common Shares through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, or may sell all or some portion of the Common Shares it owns or controls, or may continue to hold its Common Shares.

Sentgraf will file an early warning report with respect to the foregoing matters pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, a copy of which will be available under AKITA's profile on SEDAR+ at www.sedarplus.ca. A copy of such report may also be obtained by contacting Deb Atkinson at (403) 532-7551.

Sentgraf's head office is located at 18011 Spruce Meadows Way SW, Calgary, Alberta, Canada, T2X4B7. The head office of AKITA is located at 1000, 333 7^th Avenue SW, Calgary, Alberta, Canada, T2P 2Z1.

SOURCE Sentgraf Enterprises Ltd.