Brief: Highwood Oil Company Says Acquisition Of A Premier Oil Resource Play At Peace River

Highwood Asset Management

17/05/2019 06:50

May 17 (Reuters) - Highwood Oil Company Ltd  HOCL.V :
    * . ANNOUNCES THE STRATEGIC ACQUISITION OF A PREMIER OIL
RESOURCE
PLAY AT PEACE RIVER
    * DEAL FOR A TOTAL TRANSACTION VALUE OF $93.8 MILLION
    * ACQUISITION WILL BE FUNDED WITH $61.5 MILLION OF CASH,
$19.0
MILLION IN DEFERRED PAYMENT / VENDOR TAKE-BACK CONSIDERATION
    * NATIONAL BANK FINANCIAL INC IS ACTING AS FINANCIAL ADVISOR
TO
HIGHWOOD WITH RESPECT TO ACQUISITION.
    * HIGHWOOD OIL CO-DEAL ALSO FUNDED WITH $3 MILLION OF OIL
PRICE
ESCALATOR PROVISIONS,$5.3 MILLION OF ASSUMED WORKING CAPITAL
DEFICIT,$5.0 MILLION OF HOCL EQUITY

Source text for Eikon:  ID:nCNWvm5KTa 
Further company coverage:  HOCL.V 

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