Brief: Pine Cliff Energy announces $25 mln disposition of royalty assets

Pine Cliff Energy

27/06/2016 14:21

June 27 (Reuters) - Pine Cliff Energy Ltd  PNE.TO  
    * Pine Cliff Energy Ltd. announces $25 million disposition 
of royalty assets 
    * Says disposition will have an effective date of June 1, 
2016 and is expected to close on or around June 30, 2016 
    * Proceeds from disposition will be used to pay down bank 
indebtedness resulting in permanent reduction to co's borrowing 
facility 
    * Continues to work with its banking syndicate of Canadian 
financial institutions on its borrowing base redetermination 
 
Source text for Eikon:  ID:nCCN8wX5qZ  
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