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BRIEF-Pine Cliff Energy Provides Credit Facility Update

Published 2018-06-01, 08:01 p/m
© Reuters.  BRIEF-Pine Cliff Energy Provides Credit Facility Update
PNE
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June 1 (Reuters) - Pine Cliff Energy Ltd PNE.TO :

* PROVIDES CREDIT FACILITY UPDATE

* PINE CLIFF ENERGY - ENTERED AGREEMENT WITH LENDERS TO EXTEND BORROWING BASE REDETERMINATION DATE OF CO'S $45.0 MILLION SYNDICATED CREDIT FACILITY TO JULY 15, 2018

* UNTIL JULY 15, 2018 PINE CLIFF AND LENDERS HAVE AGREED THAT AMOUNTS PERMITTED UNDER CREDIT FACILITY WILL NOT EXCEED $20.0 MILLION.

* AT MAY 31, 2018, PINE CLIFF HAS $12.2 MILLION DRAWN PURSUANT TO CREDIT FACILITY

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