One-Page Deal Sheet
Terra Energy Sells Non-Core Assets in British Columbia
Not Disclosed Terra Energy Corp.
Announced Date
February 09,2016
Close Date
February 09,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
1
Transaction Details: Require Private Equity Subscription
Terra Energy Corp. has closed the sale of certain of the Company’s minor non-core, P&NG assets in the Mica/Parkland area of the Province of British Columbia for approximately $1.0 million.
Net proceeds received from the sale transactions were used to reduce the Company’s bank indebtedness. The Company’s credit facility has correspondingly been reduced by $1.0 million to a $14.7 million revolving loan, and a $500,000 remaining development line and is subject to annual and mid-term review. The facility is payable on demand with the next annual review scheduled for May 1, 2016.
Black Spruce…
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