CALGARY, Oct. 26, 2016 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) announced today that, it has entered into a Waiver, Approval and Modification Agreement (the “Agreement”) with its interim lenders with respect to the interim revolving credit facility established pursuant to the credit agreement dated as of May 25, 2016 (the “Credit Agreement”), and approved by the Court of Queen’s Bench of Alberta in Conacher’s CCAA proceeding (the “CCAA Court”) on May 17, 2016. Pursuant to the Agreement, the interim lenders have agreed to waive certain limited defaults under the Credit Agreement related to CCAA sales-process timelines and have committed to provide the Company with access to a portion of the unused U.S. $20 millionmaximum credit facility initially authorized by the CCAA Court. Specifically, pursuant to the Agreement Connacher will receive additional loans in an aggregate amount of U.S. $5,021,164.00 to support the Company’s continued operations.