Connacher Oil and Gas Limited announces extension of CCAA stay and enters into amendment and modification of interim revolving credit facility
Connacher Oil and Gas Limited ("Connacher" or the "Company") announced today that it has obtained an extension of the stay of proceedings in Connacher's Companies' Creditors Arrangement Act ("CCAA") proceeding to January 31, 2018 and has entered into an Approval and Modification Agreement #3 (the "Agreement") with its interim lenders with respect to the interim revolving credit facility established pursuant to the credit agreement dated as of May 25, 2016 (the "Credit Agreement"), and approved by the Court of Queen's Bench of Alberta (the "Court") in Connacher's CCAA proceeding on May 17, 2016. Pursuant to the Agreement, the interim lenders have agreed to extend the maturity date contained in the Credit Agreement from December 31, 2017 to January 31, 2018 to correspond with the extension of Connacher's CCAA stay of proceedings.
SOURCE: Connacher Oil and Gas Limited
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.