Business
TIDEWATER RENEWABLES LTD. ANNOUNCES EXTENSION OF CREDIT FACILITIES AND UPDATE ON THE STATUS OF ITS PREVIOUSLY ANNOUNCED PROPOSED TRANSACTION WITH TIDEWATER MIDSTREAM
TIDEWATER RENEWABLES LTD. ANNOUNCES EXTENSION OF CREDIT FACILITIES AND UPDATE ON THE STATUS OF IT...
About this update from Tidewater Renewables Ltd.
[{"type":"text","content":"\n\n\n\n TIDEWATER RENEWABLES LTD. ANNOUNCES EXTENSION OF CREDIT FACILITIES AND UPDATE ON THE STATUS OF ITS PREVIOUSLY ANNOUNCED PROPOSED TRANSACTION WITH TIDEWATER MIDSTREAM\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 TSX:\n \n LCFS\n \n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 30, 2024\n \n\n /CNW/ - Tidewater Renewables Ltd. (\"Tidewater Renewables\" or the \"Corporation\") (TSX: LCFS) is pleased to announce that the Corporation, with the support of its debt capital providers, has obtained an interim extension of the maturity of its\n \n $175 million\n \n first lien senior credit facility, and its\n \n $25 million\n \n of additional debt capacity under the second lien term debt facility, from\n \n August 30, 2024\n \n to\n \n September 18, 2024\n \n .\n \n\n\n\n\n\n\n\n\n This interim extension is expected to provide the Corporation with the necessary time to finalize the definitive agreements to, attain the necessary special committee, board, TSX and other required approvals for and complete the proposed transaction with Tidewater Midstream and Infrastructure Ltd., which was announced and described by the Corporation on\n \n August 15, 2024\n \n in its second quarter press release (the \"Proposed Transaction\") as well as related longer term extensions and amendments with its debt capital providers.\n \n\n\n ABOUT TIDEWATER RENEWABLES\n \n\n\n Tidewater Renewables is a multi-faceted energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel. The Corporation was created in response to the growing demand for renewable fuels in\n \n North America\n \n and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as tallow, used cooking oil, distillers corn oil, soybean oil, canola oil and other biomasses) into low carbon fuels. Tidewater Renewables' objective is to become one of the leading Canadian renewable fuel producers. Additional information relating to Tidewater Renewables is available on SEDAR+ at\n \n www.sedarplus.ca\n \n and ...