EDMONTON, Alberta, May 26, 2017 /PRNewswire/ -- Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, is pleased to announce that today it has successfully entered into a strategic financing relationship with Ikkuma Resources Corp., ("Ikkuma") (TSE: IKM).
Ikkuma is a growth-oriented oil and gas company operating in the Alberta and BC Foothills. AIMCo's investment in Ikkuma provides its clients an attractive opportunity to gain direct exposure to a Calgary-based Canadian energy company focused on long-term value creation through high growth, low decline, gas-weighted, oil upside in conventional bypassed reservoirs. The technical team at Ikkuma has worked together for over a decade in the Foothills Region of Western Canada, demonstrating the unique skills and repeat success at exploiting a complex and prolific play type that are fundamental ingredients for a successful growth-oriented company.
"AIMCo is very pleased to have an opportunity to increase our investment in Ikkuma Resources, on behalf of our clients, by way of this strategic financing relationship," states Peter Pontikes, Executive Vice-President, Public Equities of AIMCo. "AIMCo enjoys a strong working relationship with Ikkuma's accomplished management team, and we have great confidence in their ability to most effectively utilize this investment to navigate current challenges facing the market, while also positioning the company for future growth."
Tim de Freitas, President and CEO of Ikkuma Resources Corp. comments "Having a large sophisticated Alberta-based Institutional Investor alongside Ikkuma is a privilege. AIMCo, has supported Ikkuma from its inception several years ago, and continues to share Ikkuma's view of long term value creation within Alberta's prolific foothills reservoirs. This investment increases the Corporation's liquidity and allows it to pursue its exciting new light oil discovery, through 2017 and beyond."
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers with more than $100 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta. For more information on AIMCo please visit www.aimco.alberta.ca.
About Ikkuma Resources (Ikkuma)
Ikkuma Resources Corp is a diversified junior public oil and gas company listed on the TSX-V under the symbol IKM, with holdings in both conventional and unconventional projects in Western Canada. Further information about Ikkuma can be found at www.ikkumarescorp.com.
For further information:
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SOURCE Alberta Investment Management Corp.