Brief: Cathedral Energy provides update on its credit facility and initiation of strategic alternatives process

ACT Energy Technologies

29/08/2016 08:00

Aug 29 (Reuters) - Cathedral Energy Services Ltd  CET.TO  
    * Cathedral energy services provides update on its credit 
facility and initiation of strategic alternatives process 
    * Says Export Development Canada ("edc") has joined 
Cathedral's banking syndicate 
    * Co's credit facility availability increased from that 
disclosed in Q2 results,credit facility commitments from BNS,NBF 
have decreased 
    * Co's credit facility availability is now $36 million 
reducing to $33 million by December 31, 2016 and $28 million by 
March 31, 2017 
    * Says lenders have also agreed to extend maturity of 
Cathedral's credit facility to November 2017 
    * Initiated a process to identify, examine and consider a 
range of strategic alternatives available to company 
    * For purposes of considering strategic alternatives, 
Cathedral has established a special committee of independent 
directors 
    * Special committee retained Firstenergy Capital Corp as its 
financial advisor in connection with review of strategic 
alternatives 
 
Source text for Eikon:  ID:nCNW7lQdsa  
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