CALGARY, AB – PetroFrontier Corp. (“PetroFrontier” or the “Corporation“) (TSXV:PFC) is pleased to announce that it has closed its previously announced credit facility (the “Credit Facility“) in the amount of $2,000,000 (see the Corporation’s press release dated March 2, 2021).
Kasten Energy Inc. and Paul Cheung are insiders of the Corporation and provided $1.5 million and $500,000 of the Credit Facility, respectively. The Credit Facility was unanimously approved by the board of directors of PetroFrontier, excluding a director that abstained from voting due to a conflict of interest.
PetroFrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.
PetroFrontier’s head office is in Calgary, Alberta and its Common Shares are listed for trading on the Exchange under the symbol “PFC”.