Brief: Prairie Provident Resources Announces Strategic Asset Sales

Prairie Provident Resources

30/10/2023 10:06

Oct 30 (Reuters) - Prairie Provident Resources Inc
 PPR.TO :
    * PRAIRIE PROVIDENT RESOURCES ANNOUNCES STRATEGIC ASSET
SALES
    * PRAIRIE PROVIDENT RESOURCES INC - ENTERED INTO A
DEFINITIVE
AGREEMENT WITH A PRIVATE OIL AND GAS COMPANY TO SELL COMPANY'S
EVI CASH-GENERATING UNIT LOCATED IN NORTHERN ALBERTA
    * PRAIRIE PROVIDENT RESOURCES INC - PROPOSED DEAL FOR $27.0
MILLION PAYABLE IN CASH
    * PRAIRIE PROVIDENT RESOURCES - ENTERED INTO AGREEMENT WITH
ANOTHER PRIVATE OIL AND GAS CO TO SELL CERTAIN NON-CORE ASSETS
    * PRAIRIE PROVIDENT RESOURCES INC - BASE PURCHASE PRICE FOR
DEAL
FOR NON-CORE ASSETS IS $1.8 MILLION PAYABLE IN CASH
    * PRAIRIE PROVIDENT RESOURCES - PROCEEDS OF COMPLETED
TRANSACTIONS
WILL ALLOW CO TO ACHIEVE MATERIAL REDUCTION IN DEBT AND
ASSOCIATED INTEREST EXPENSE

Source text for Eikon:  ID:nGNXbKfSS5 
Further company coverage:  PPR.TO 

 ((Reuters.Briefs@thomsonreuters.com))