An unknown buyer completed the acquisition of Evi Unit Located in Northern Alberta from Prairie Provident Resources Inc. for CAD 22.5 million.
An unknown buyer completed the acquisition of Evi Unit Located in Northern Alberta from Prairie Provident Resources Inc. (TSX:PPR) for CAD 22.5 million on March 5, 2024. In a related transaction, An unknown buyer completed the acquisition of certain non-core assets located in the Provost area of Central Alberta from Prairie Provident Resources Inc. (TSX:PPR) for CAD 1.7 million on March 5, 2024. The purchasers have assumed all future abandonment and reclamation obligations (ARO) pertaining to the sold assets, which carry total AER deemed liabilities of approximately CAD 51.0 million gross (CAD 46.4 million net). Of the net proceeds of approximately CAD 24.2 million, CAD 20 million has been used to reduce indebtedness under the Company?s senior secured credit facility, with the remainder to increase its working capital position.