July 1 (Reuters) - Gran Tierra Energy Inc GTE.TO :
* Gran Tierra Energy Inc. announces strategic US$525 million
acquisition of Petrolatina Energy Ltd. in Colombia
* Deal expected to be funded through combination of co's
current cash balance, new $130 million debt facility, and a
private placement
* Says acquisition has been unanimously approved by board of
directors of Gran Tierra
* Under terms, all remaining shares of Petrolatina are
acquired pursuant to provisions of articles of association of co
upon closing
* Consideration for deal to consist of initial payment of
$500 million at closing, and a deferred payment of $25 million
prior to december 31, 2016
* In connection with deal, Gran Tierra has agreed to issue
up to 57.8 million subscription receipts priced at $3.00 per
subscription receipt
* Entered into commitment letter with Scotiabank, its lead
lender, to provide up to $130 million in bridge financing to
fund portion of deal
Source text for Eikon: ID:nMKWkRY2ga
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