Pine Cliff Energy Ltd. Announces $25 Million Disposition of Royalty Assets
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce that it has entered into an agreement to sell its fee title land and other minor overriding royalty interests (the "Royalty Assets" or the "Disposed Assets") for cash consideration of $25 million, prior to any closing adjustments (the "Disposition"). The Disposition will have an effective date of June 1, 2016 and is expected to close on or around June 30, 2016. The agreement related to the Disposition is subject to various standard conditions, including the approval of the Company's banking syndicate.
Pine Cliff Energy Ltd. Announces Extension of Borrowing Base Redetermination Date
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) announces that it has entered into an agreement with the Company's syndicate of Canadian Financial Institutions to extend the borrowing base redetermination date to June 30, 2016. Pine Cliff continues to consider various options to improve its balance sheet while at the same time preserving the core business of the Company. These options include sale of non-core investments and assets, infrastructure options and financings (debt or equity).
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce all matters presented for approval at the annual and special meeting of shareholders on May 19, 2016 (the "Meeting") have been approved. A total of 139,217,155 common shares representing 45.56% of Pine Cliff's issued and outstanding common shares were voted in connection with the Meeting.
Pine Cliff Energy Ltd. Announces its First Quarter 2016 Results
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce its first quarter financial and operating results. Included in the filings were Pine Cliff's condensed consolidated interim financial statements and related management's discussion and analysis for the period ended March 31, 2016 (the "Q1-Report").
Pine Cliff Energy Ltd. Announces its Fourth Quarter and Annual 2015 Results
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce its fourth quarter and year-end financial and operating results and the filing of its 2015 disclosure documents.
Pine Cliff Energy Ltd. Announces Graduation to Toronto Stock Exchange
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that it has received final approval to list the Company's common shares (the "Common Shares") on the Toronto Stock Exchange (the "TSX").
Pine Cliff Energy Ltd. Announces More Than 120% Increase in 2015 Year-End Reserves
Pine Cliff is pleased to report significant increases in its reserve base in 2015. The increases are mainly a result of the acquisition of certain liquids rich natural gas assets in the McLeod area of Alberta in June 2015 and certain natural gas assets in Central Alberta in December 2015.
Pine Cliff Energy Ltd. Announces Closing of $185 Million Strategic Acquisition, Credit Facility Increase, TSX Listing Application and 2016 Guidance
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that its previously announced acquisition of certain natural gas weighted assets (the "Assets") in the Viking area of Central Alberta and Ghost Pine area of Central Alberta for cash consideration of $185 million, prior to any adjustments and rights of first refusal (the "Acquisition"), has now closed.
Pine Cliff Energy Ltd. Completes $3 Million Private Placement
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that it has closed its previously announced non-brokered private placement of common shares (the "Private Placement") to some of its directors, officers, employees and certain consultants
Pine Cliff Energy Ltd. Completes $69 Million Subscription Receipt Offering
Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that it has closed its previously announced short form prospectus offering (the "Offering"). The Company issued 63.9 million subscription receipts (the "Subscription Receipts"), including 8.3 million Subscription Receipts pursuant to the exercise of the over-allotment option granted to the Underwriters (as defined herein), at a price of $1.08 per Subscription Receipt (the "Offering Price") for gross proceeds of $69 million.