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Waldron Energy Corporation to sell its Ricinus and Strachan properties


Published May 5, 2015
Waldron Energy Corporation

As previously announced on December 2, 2014, Waldron Energy Corporation has engaged Cormark Securities Inc. as its exclusive financial advisor in order to pursue the sale of a material portion of the assets of the Corporation, either in one transaction or in a combination of transactions; a merger or other business combination; the outright sale of the Corporation; or some combination thereof (the 'Disposition Process').

As the first step in the Disposition Process, the Corporation is pleased to announce it has entered into an agreement for the sale of its Strachan and Ricinus properties for gross proceeds of $12.3 million (the 'Ricinus Strachan Sale'). Closing of the Ricinus Strachan Sale is currently scheduled to occur on or about May 5, 2015 and is conditional on the satisfaction of certain customary conditions. The Corporation is encouraged by the significant reduction in total indebtedness which will result from the sale as it continues with the Disposition Process.

Tags: Waldron Energy Corporation




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