Pieridae Energy Ltd T.PEA

Alternate Symbol(s): PTOAF

Energy Oil & Gas Integrated

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.

TSX:PEA - Post by User

Pieridae Energy Ltd

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Post by birdie22on Sep 30, 2019 8:36am

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Post# 30176904

Pieridae and AIMCo Agree to Extend Term Loan and Convertible

Pieridae and AIMCo Agree to Extend Term Loan and Convertible Debenture Maturity

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
Pieridae and AIMCo Agree to Extend Term Loan and Convertible Debenture MaturityDISSEMINATION IN UNITED STATES

CALGARY, Alberta, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA)announces that Alberta Investment Management Corporation, on behalf of certain of its clients, and Pieridae have agreed to extend the maturity date of both (a) the $50 million senior secured term loan facility (the “Term Loan”), as described in the news release issued by the Company on December 18, 2018, and (b) the $10 million secured convertible debenture, as described in the news release issued by the Company on July 2, 2019, from September 30, 2019 to the earlier to occur of (i) October 16, 2019, or (ii) the day on which an acceleration notice is delivered, or deemed to be delivered under the Term Loan. This revised maturity date will align with Pieridae’s closing of its proposed acquisition of certain midstream and upstream properties from Shell Canada Energy as described in the news release issued by the Company on June 26, 2019 which Pieridae expects to occur on or before October 16, 2019.

About Pieridae
Founded in 2011, Pieridae, a majority Canadian owned corporation based in Calgary, is focused on the development of integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro LNG facility and the production of LNG for sale to Europe and other markets. Pieridae is on the leading edge of the re-integration of the LNG value chain in North America. Pieridae has 86,713,713 common shares issued and outstanding whi ch trade on the TSX Venture Exchange (PEA).

For further information please contact:

Alfred Sorensen, Chief Executive Officer
Telephone: (403) 261-5900

James Millar, Director, External Relations
Telephone: (403) 261-5900

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