CALGARY, AB, April 30, 2021 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the maturity date applicable to the Company’s first lien credit facility has been extended to June 16, 2021 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before June 16, 2021. The maturity of the Company’s second lien Term Loan has been extended to June 30, 2021. These loan maturity extensions provide additional time to finalize negotiations with its lenders and for the Company to explore opportunities to enhance its liquidity. If the credit facility maturity is not further extended by June 16, 2021, all outstanding advances will be repayable. Similarly, if the Term Loan maturity is not further extended by June 30, 2021, the Term Loan will be repayable.
Perpetual is an oil and natural gas exploration, production and marketing company headquartered in Calgary, Alberta. Perpetual owns a diversified asset portfolio, including liquids-rich conventional natural gas assets in the deep basin of West Central Alberta, heavy crude oil and shallow conventional natural gas in Eastern Alberta, including prospective undeveloped acreage in the emerging Clearwater play fairway and undeveloped bitumen leases in Northern Alberta. Additional information on Perpetual can be accessed at www.sedar.com or from the Corporation’s website at www.perpetualenergyinc.com.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.