A group of Canadian and foreign investors, including the government of Singapore, has agreed to invest $500 million in Osum Oil Sands Corp., which is developing two projects in northern Alberta.
The Calgary-based company will use the money to advance its Saleski and Taiga oilsands projects in Alberta towards commerical production.
The group includes both existing Osum shareholders such as Warburg Pincus and Blackstone Capital Partners and new investors, such as the Singapore Investment Corp and KERN Partners, a Calgary-based private equity firm. Full story
