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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE BRAZEAU RIVER ROADWAY NETWORK TO CRR
TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE BRAZEAU RIVE...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n\n\n\n TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE BRAZEAU RIVER ROADWAY NETWORK TO CRR\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n (TSX: TWM)\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n March 25, 2025\n \n\n /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Corporation\") (TSX: TWM) is pleased to announce the successful closing of the previously announced sale of its Brazeau River Complex roadway network (the \"BRC Roadway Network\") to Canadian Resource Roadways LP (\"CRR\") for total proceeds of\n \n $24 million\n \n (the \"Transaction\"). Of the\n \n $24 million\n \n in total proceeds,\n \n $22.5 million\n \n was received upon closing of the Transaction, with the balance expected to be received on or before\n \n December 31, 2025\n \n . The proceeds will be used to permanently repay amounts outstanding on the Corporation's three-year delayed draw term loan. The BRC Roadway Network is a non-core asset of Tidewater and the disposition of the BRC Roadway Network is expected to have an immaterial impact to Tidewater's 2025 operating results.\n \n\n\n\n\n\n\n\n\n\n ABOUT TIDEWATER MIDSTREAM\n \n\n AND INFRASTRUCTURE LTD.\n \n\n\n Tidewater is traded on the TSX under the symbol \"TWM\". Tidewater's business objective is to profitably grow and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product, and renewable energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage, and various renewable initiatives. To complement its infrastructure asset base, the Corporation also markets crude, refined product, natural gas, natural gas liquids and renewable products and services to customers across\n \n North America\n \n . Tidewater is a majority shareholder of Tidewater Renewables. Additional information relating to Tidewater is available on SEDAR+ at\n \n www.sedarplus.ca\n \n and at\n \n https...