Brief: Pine Cliff announces issuance of insider subordinated debt

Pine Cliff Energy

02/08/2016 14:29

Aug 2 (Reuters) - Pine Cliff Energy Ltd.  PNE.TO  
    * Announces issuance Of insider subordinated debt, sale of 
non core assets and extension of borrowing base redetermination 
    * Issued subordinated floating charge debentures to insiders 
of company for a total of $11 million 
    * Extended semi-annual borrowing base redetermination with 
banking syndicate of canadian financial institutions until 
August 10, 2016 
    * Entered into a purchase and sale agreement to sell a 
non-core oil asset for $5.5 million 
    * Debentures mature on July 29, 2018, can be repaid at any 
time without penalty 
 
Source text for Eikon:  ID:nCCN8ksvCC  
Further company coverage:  PNE.TO  
 
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