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Calgary, Alberta--(Newsfile Corp. - June 2, 2025) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") has declared a regular monthly dividend of $0.00125 per common share to be paid June 30, 2025, to shareholders of record on June 16, 2025. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice.
Renewal and Extension of Debt Facilities
Pine Cliff is pleased to announce it has finalized the renewal of its demand loan with a Canadian chartered bank at $15 million. The reduction to $12 million that was previously scheduled for May 31 has been eliminated.
The Company has also amended the agreement with its term debt holder to reduce its annual scheduled amortization payments to 7.5% of the initial principal balance from 15.0% previously, while also extending the maturity date on the facility to January 3, 2028. The dividend-linked amortization payments introduced in late 2024 have been eliminated.
About Pine Cliff
Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on sedarplus.ca as well as on Pine Cliff's website at www.pinecliffenergy.com.
For further information, please contact:
Philip B. Hodge - President and CEO
Kristopher B. Zack - CFO and Corporate Secretary
Telephone: (403) 269-2289
Fax: (403) 265-7488
Email: [email protected]
The TSX does not accept responsibility for the accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254088
