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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Petrus Resources Ltd | TSX:PRQ | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -0.75% | 1.33 | 1.32 | 1.33 | 1.35 | 1.32 | 1.34 | 31,373 | 19:51:36 |
The New Credit Facilities consist of a $30 million reserve-based, secured operating revolving loan facility with ATB Financial (the "ATB Facility") and a second lien secured term facility in the amount of $25 million (the "Second Lien Facility") with Stuart Gray, a principal shareholder of the Company.
The New Credit Facilities, together with the net proceeds of the Company’s recently closed $20 million rights offering (the “Rights Offering” and together with the New Credit Facilities, the “Transactions”) have been used to repay in full all amounts owning under the Company’s previously secured revolving credit facility (“Previous RCF”). Following closing on May 2, 2022, the net proceeds from the Rights Offering were used to repay a portion of the amounts drawn under the Company’s Previous RCF. On closing of the New Credit Facilities, the Company drew approximately $10 million from the ATB Facility and $12 million from the Second Lien Facility to repay in full all remaining amounts owing under the Company's Previous RCF. These Transactions complete the Company’s debt restructuring.
ABOUT PETRUS
Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ken Gray President and Chief Executive Officer T: 403-930-0889 E: kgray@petrusresources.com
1 Year Petrus Resources Chart |
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