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BRIEF-Pine Cliff Energy announces $25 mln disposition of royalty assets

Published 2016-06-27, 10:18 a/m
© Reuters.  BRIEF-Pine Cliff Energy announces $25 mln disposition of royalty assets
PNE
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June 27 (Reuters) - Pine Cliff Energy Ltd PNE.TO
* Pine Cliff Energy Ltd. announces $25 million disposition
of royalty assets
* Says disposition will have an effective date of June 1,
2016 and is expected to close on or around June 30, 2016
* Proceeds from disposition will be used to pay down bank
indebtedness resulting in permanent reduction to co's borrowing
facility
* Continues to work with its banking syndicate of Canadian
financial institutions on its borrowing base redetermination

Source text for Eikon: ID:nCCN8wX5qZ
Further company coverage: PNE.TO

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