LOGAN ENERGY CORP. ANNOUNCES FILING OF SECOND QUARTER 2023 FINANCIAL STATEMENTS AND NEW CREDIT FACILITY

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[{"type":"text","content":"\n \n \n \n LOGAN ENERGY CORP. ANNOUNCES FILING OF SECOND QUARTER 2023 FINANCIAL STATEMENTS AND NEW CREDIT FACILITY\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 11, 2023\n \n \n /CNW/ -\n \n Logan Energy Corp.\n \n (\"\n \n Logan\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that the Company's unaudited interim financial statements and related management's discussion and analysis (\"\n \n MD&A\n \n \") for the three and six months ended\n \n June 30, 2023\n \n and 2022 have been filed on SEDAR+ at\n \n www.sedarplus.ca\n \n and are available on the Company's website at\n \n www.loganenergycorp.com\n \n .\n \n \n On\n \n June 20, 2023\n \n , Logan commenced active operations following the spin-out of the early stage\n \n Montney\n \n assets from Spartan Delta Corp. (\"\n \n Spartan\n \n \").  Pursuant to the terms of an asset conveyance agreement between Logan and Spartan dated\n \n June 20, 2023\n \n , Spartan transferred certain oil and natural gas assets (the \"\n \n Transferred Assets\n \n \") to Logan in exchange for one common share of Logan (a \"\n \n \n Logan Share\n \n \n \") and one common share purchase warrant of Logan (a \"\n \n Transaction Warrant\n \n \") for each outstanding common share of Spartan (the \"\n \n Spin-Out\n \n \").  In aggregate, 173.2 million Logan Shares and 173.2 million Transaction Warrants were issued to Spartan in consideration for the Transferred Assets.\n \n \n \n Subsequent Events\n \n \n \n \n The Logan Shares and Transaction Warrants issued in connection with the Spin-Out were distributed to eligible holders of common shares of Spartan on\n \n July 6, 2023\n \n .\n \n \n Closed the previously announced non-brokered private placement for gross proceeds of approximately\n \n $48.5 million\n \n on\n \n July 13, 2023\n \n .\n \n \n Logan Shares were approved for listing on the TSX Venture Exchange (\"\n \n TSXV\n \n \") and commenced trading on\n \n July 18, 2023\n \n , under the symbol \"LGN\".\n \n \n Received cash pr...

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