Prairie Provident Announces Interim Extension of Senior Credit Facility
July 30 2024 - 8:45PM
Prairie Provident Resources Inc. ("Prairie Provident" or the
"Company") (TSX:PPR) announces an extension to the maturity date of
its senior secured credit facility (the "First Lien Loan") until
August 30, 2024 as well as the deferral of all interest payment
obligations thereunder. The Company and its lender are actively
engaged in discussions on a further extension of the First Lien
Loan.
The Company also announces that David Stobbe,
Senior Controller and Chief Financial Officer has departed the
Company. The Company is recruiting a replacement and will provide
an update as details become available.
ABOUT PRAIRIE PROVIDENT
Prairie Provident is a Calgary-based company
engaged in the exploration and development of oil and natural gas
properties in Alberta, including a position in the emerging Basal
Quartz trend in the Michichi area of Central Alberta.
For further information, please contact:
Ryan Rawlyk, President and CEOPhone: (403)
292-8180Email: info@ppr.ca
Forward-Looking Information
Reference in this news release to a further
extension of the First Lien Loan may constitute forward-looking
information within the meaning of applicable Canadian securities
laws. Forward-looking information is provided as of the date of
this news release and is based on the Company's current
assumptions, plans, expectations and beliefs. Forward-looking
information is, however, inherently uncertain, and there can be no
assurance that any event, outcome or circumstance stated or
suggested in forward-looking information, including a further
extension of the First Lien Loan, will occur or be realized.
Prairie Provident assumes no obligation to publicly update or
revise any forward-looking information herein to reflect new or
different events, outcomes or circumstances, or otherwise, except
as may be required pursuant to applicable laws.
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