PetroFrontier Corp. Announces Closing of Credit Facility
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CALGARY, AB / ACCESSWIRE / March 9, 2021 / PetroFrontier Corp. ("PetroFrontier" or the "Corporation") (TSXV:PFC) is pleased to announce that it has closed its previously announced credit facility (the "Credit Facility") in the amount of $2,000,000 (see the Corporation's press release dated March 2, 2021).
Kasten Energy Inc. and Paul Cheung are insiders of the Corporation and provided $1.5 million and $500,000 of the Credit Facility, respectively. The Credit Facility was unanimously approved by the board of directors of PetroFrontier, excluding a director that abstained from voting due to a conflict of interest.
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's head office is in Calgary, Alberta and its Common Shares are listed for trading on the Exchange under the symbol "PFC".
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier. All statements included herein, other than statements of historical fact, are forward-looking 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 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.
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.
Not for release in the United States of America
For More Information Contact
SOURCE: PetroFrontier Corp.
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