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Petrofrontier Corp. Announces $15.1 Million Funding Arrangement

Petrofrontier Corp. Announces $15.1 Million Funding Arrangement

Petrofrontier公司宣布1510万美元资金安排
Accesswire ·  07/30 07:00

CALGARY, AB / ACCESSWIRE / July 30, 2024 / PetroFrontier Corp. ("PetroFrontier" or the "Corporation") (TSXV:PFC) is pleased to announce that it has, pursuant to a term sheet made effective July 1, 2024 but accepted July 18, 2024, entered into a funding arrangement with DeerGarden Resources Ltd. (the "Funder"), an arm's-length private energy company incorporated under the laws of Alberta, whereunder the Funder will provide capital through a limited partnership, to optimize development of PetroFrontier's current and future interests in the Cold Lake area of Alberta (the "Funding Arrangement").

加拿大卡尔加里/ACCESSWIRE/2024年7月30日/PetroFrontier Corp.("PetroFrontier"或"公司") (tsxv: PFC)非常高兴地宣布,根据一个在2024年7月1日生效但于2024年7月18日接受的条款表,与DeerGarden Resources Ltd. ("资助方"),一个根据阿尔伯塔省法律成立的独立的私人能源公司,签订了一项资金安排,资助方将通过有限合伙方式提供资本,以优化PetroFrontier在冷湖地区当前和未来利益的开发("资金安排")。

"This is an important transaction for PetroFrontier and its stakeholders," stated Kelly Kimbley, President & CEO of PetroFrontier. "Our board of directors and management believe that, through our partnership with DeerGarden, we now have access to the level of capital and additional development capacity to fully unlock the potential of the Corporation's interests at Cold Lake." The Funding Arrangement is expected to proceed as follows:

“这对于PetroFrontier及其利益相关方来说是一笔重要的交易,”PetroFrontier总裁兼首席执行官Kelly Kimbley表示。 “我们的董事会和管理层相信,通过与DeerGarden的合作,我们现在可以获得足够的资金和额外的开发能力,以充分释放公司在Cold Lake的利益的潜力。”资金安排预计将按以下方式进行:

(a) PetroFrontier will assign all its petroleum and natural gas interests in the Cold Lake area (the "Cold Lake Interests") to an Alberta registered limited partnership (the "Limited Partnership") in exchange for 99% of the units of the Limited Partnership (the "LP Units");

(a)PetroFrontier将其在Cold Lake地区的所有石油和天然气利益(以下称为“Cold Lake利益”)分配给阿尔伯塔注册的有限合伙制(以下称为“有限合伙制”)以换取有限合伙制的99%单位(以下称为“LP单位”);

(b) PetroFrontier and the Funder will enter into definitive transaction agreements to effect the Funding Arrangement including a limited partnership agreement, unanimous shareholder agreement and contribution agreement;

(b)PetroFrontier和出资方将签署明确的交易协议,以实现资金安排,其中包括有限合伙协议,无异议股东协议和出资协议;

(c) An Alberta corporation has been formed to act as general partner for the Limited Partnership (the "General Partner") and hold 1% of the LP Units and will operate the Cold Lake Interests following qualification with the Alberta Energy Regulator to hold all applicable licenses associated with the Cold Lake Interests and to manage the business of the Limited Partnership. Pursuant to the Funding Arrangement, the General Partner will be jointly owned by PetroFrontier and the Funder (collectively, the "Parties");

(c)成立了一个阿尔伯塔省公司担任有限合伙企业的普通合伙人(以下简称"普通合伙人")并持有1%的有限合伙权益,在取得阿尔伯塔省能源监管机构颁发的与冷湖利益相关的所有适用许可证和管理有限合伙企业业务的资格后,将管理冷湖利益。根据资金安排,普通合伙人将由PetroFrontier和资助方(共同称为"各方")共同拥有。

(d) The Funder will contribute the principal sum of $14 million to the Limited Partnership in tranches as cash is called by the General Partner for ongoing development activities pertaining to the Cold Lake Interests in 2024 and 2025. The initial development activities will include the drilling of two single-leg horizontal wells and 9 workovers of existing wells all targeting production from the Mannville. Upon fulfillment of the $14 million contribution, LP Units will be held as follows:

(d)出资方将在2024年和2025年向有限合伙制提供1400万加元的本金,以按要求提现,用于Cold Lake利益的持续开发活动。最初的开发活动将包括针对Mannville产生的两个单腿水平井和对现有井的9个维修工作。在完成1400万加元的出资之后,LP单位将持有如下:

General Partner

1%

PetroFrontier

49.5%

Funder

49.5%

普通合伙人

1%

石油前线

49.5%

出资方

49.5%

After which distributions will be based on LP Units owned.

之后将基于所拥有的LP单位进行派息。

(e) Unless otherwise agreed to by the Parties, distributable income from the Limited Partnership will be paid out quarterly to the Limited Partners on a preferential basis (75/25 in favour of the Funder) until the earlier of the two-year anniversary of initial cash flow from development activities under the Limited Partnership or upon receipt of $14 million in distributable income by the Funder (and, thereafter, in proportion to the LP Units held by the Parties); and

(e)除非各方另有协议,否则有限合伙制的可分配收入将按75/25的优先权(有利于出资方)分别支付给有限合伙人,直到有限合伙制从开发活动获得的现金流的前两年周年纪念日或出资方接收到1400万加元的可分配收入(并且之后按各方持有的LP单位的比例); 和

(f) The Funding Arrangement also provides for new debt funding from the Funder to PetroFrontier of $1.1 million to reduce its outstanding accounts payable. The term of the debt funding will be for 18 months with an interest rate of 10% per annum.

(f)资金安排还提供了从出资方向石油前线提供新的债务融资,以减少其未偿付的应付款项110万加元。债务融资的期限为18个月,年利率为10%。

The Funding Arrangement is expected to close within the next 30 to 60 days subject to certain conditions and regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange").

预计资金安排将在接下来的30至60天内达成,视情况和监管批准,包括TSX Venture Exchange(以下简称“Exchange”)的批准而定。

Closing of the Funding Arrangement remains subject to certain conditions precedent. These include the execution of all definitive agreements, obtaining requisite approvals including the Exchange and any required shareholder approval. There can be no assurance that the Funding Arrangement will be completed as proposed or at all.

资金安排的完成仍然取决于某些先决条件。这些条件包括执行所有明确的协议,获得必要的批准,包括Exchange的批准和任何必要的股东批准。不能保证资金安排将按照拟议的方式或根本实现。

PetroFrontier will provide additional updates regarding the Funding Arrangement in subsequent news releases.

石油前线将在随后的新闻稿中提供有关资金安排的其他更新。

About PetroFrontier Corp.

关于石油前线公司

PetroFrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.

PetroFrontier是一家初创能源公司,目前专注于开发阿尔伯塔省冷湖和瓦巴斯卡地区的两个Mannville重质油储层。

PetroFrontier's head office is in Calgary, Alberta and its common shares are listed for trading on the Exchange under the symbol "PFC".

石油前线的总部位于阿尔伯塔省卡尔加里市,其普通股在交易所上交易,股票代码为“PFC”。

Forward-Looking Statements

前瞻性声明

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier, including, without limitation, statements pertaining to entering into of definitive agreements, completion of the Funding Arrangement, the anticipated benefits of the Funding Arrangement, obtaining necessary approvals including from the Exchange, and to management's future plans and operations. All statements included herein, other than statements of historical fact, are forwardlooking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this news release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.

本新闻发布可能包含重要的已知和未知风险和不确定性的前瞻性信息,其中大部分超出了石油前线的控制范围,包括但不限于,涉及签署明确协议,完成融资安排,预期的融资安排利益,获得来自Exchange及管理层的未来计划和运营。除历史事实外,所有包含在此处的陈述均为前瞻性信息,该信息涉及各种风险和不确定性。不能保证此类信息将被证明是准确的,而实际结果和未来事件可能与此类信息所预期的不同。任何前瞻性声明均是根据本新闻发布的日期进行的,并且除适用证券法规定外,石油前线不会承担任何更新或修订其内容以反映新事件或情况的义务。

Completion of the Funding Arrangement is subject to a number of conditions, including Exchange acceptance and any required shareholder approval. There can be no assurance that the Funding Arrangement will be completed as proposed or at all.

融资安排的完成取决于许多条件,包括Exchange的接受和任何所需股东批准。不能保证资金安排将按照拟议的方式或根本实现。

The Exchange has in no way passed upon the merits of the Funding Arrangement and has neither approved nor disapproved the contents of this news release.

Exchange无论如何都不会对融资安排的优点进行审查,也不会批准或驳回本新闻发布的内容。

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TSX Venture Exchange及其监管服务提供者(如TSX Venture Exchange的政策所定义的那样)对此发布的充分性或准确性不承担任何责任。

NOT FOR DISSEMINATION IN THE UNITED STATES.

不得在美国传播。

For More Information Contact Kelly Kimbley, President & CEO

欲知详情,请联系Kelly Kimbley总裁兼CEO。

PetroFrontier Corp.
Suite 700, 903 - 8 Avenue S.W.
Calgary, Alberta, Canada T2P 0P7
Telephone: (403) 650-6355
Email: info@petrofrontier.com

PetroFrontier公司。
地址:加拿大阿尔伯塔省卡尔加里市903-8大道西南700号。
邮编:T2P 0P7。
电话:(403) 650-6355。
电子邮件:info@petrofrontier.com。

SOURCE: PetroFrontier Corp.

来源:PetroFrontier公司。


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