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Kinjal and IFR advance $37M financing and Mexican asset deals in planned reverse takeover

Company Fundamentals
25 May 2026
Newsfile Corp
View Source
Bullish
pluang ai news

Kinjal Corporation and International Frontier Resources Corporation (IFR) are progressing with a proposed reverse takeover (RTO) and a concurrent private placement to raise up to C$37 million. The deal includes acquiring Mexican natural gas assets like the Misión Field and Tonalli, with regulatory approvals and shareholder consent pending. Kinjal secured a binding term sheet for a US$30 million debt facility to fund part of the acquisition. Post-transaction, Kinjal plans a comprehensive third-party resource report and aims to become Mexico's largest independent onshore gas producer. New board members with energy and governance expertise have been appointed to support the transition.

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