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Bonterra Energy Corp. Announces Extension of Bank Line Redetermination Date
Bonterra Energy Corp. Announces Extension of Bank Line Redetermination Date Canada...
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n\n\n\nBonterra Energy Corp. Announces Extension of Bank Line Redetermination Date\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, AB, June 30, 2020\n\n\n\nCALGARY, AB, June 30, 2020 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (\"Bonterra\" or the \"Company\") announces it has executed an amending agreement with its syndicate of lenders to extend the annual borrowing base redetermination date on its credit facility from June 30th, 2020 to July 15th, 2020. \nThis extension provides the Company and its lending syndicate additional time to assess the impact of developments in current market dynamics, including the proposed programs initiated by the Federal Government through Export Development Canada and Business Development Bank of Canada, and to establish a credit facility renewal that underpins Bonterra's ongoing financial flexibility. Consistent with the extension agreement announced on June 1st, 2020, the extension requires unanimous lender consent for any advance that results in the aggregate principal amount outstanding under the credit facility to exceed $300 million. \nBonterra Energy Corp. is a conventional oil and gas corporation with operations in Alberta, Saskatchewan and British Columbia, focused on its strategy of long-term, sustainable growth and value creation for shareholders. The Company's shares are listed on The Toronto Stock Exchange under the symbol \"BNE\".\nForward Looking Information\nCertain statements contained in this release include statements which contain words such as \"anticipate\", \"could\", \"should\", \"expect\", \"seek\", \"may\", \"intend\", \"likely\", \"will\", \"believe\" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute \"forward-looking information\" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by u...