DALMAC ENERGY INC. TSX Venture: "DAL"
EDMONTON, Sept. 12, 2012 /CNW/ - Dalmac Energy Inc. ("Dalmac"), (the Company), (TSXV: DAL), a leading provider of fluid
hauling and well servicing to the energy industry, today announced that
it has finalized a senior secured finance facility of up to $17 million
with PNC Bank Canada Branch, (PNC). This new facility bears an
interest rate of lender prime plus 1.25% which is considerably less
that the Company's current loan rates. Dalmac will use the facility to
pay off its existing bank and other long-term debts which currently
total approximately $8.4 million and will have up to $6.5 million
available to finance new capital expenditures. The balance of the
facility will be available for working capital. Dalmac will have the
option to increase the facility to $20 million, subject to lender
approval. The facility will have a four year term and is subject to a
number of conditions including the completion of security documents and
Responding to the current surge in demand for its services, Dalmac plans
on increasing the size of its fleet over the next 12 months by
purchasing about $6.5 million dollars of additional oilfield equipment
to handle the growth. The Company is confident that current positive
industry indicators will continue to translate into high demand and
record revenues and earnings for Dalmac throughout the remainder of
calendar 2012 and well into 2013.
We seek Safe Harbor.
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.
SOURCE: Dalmac Energy Inc.
For further information:
John Babic, at (780) 988-8510, by fax at (780) 988-8512 or by e-mail at email@example.com.
John Beasley - CFO - Dalmac Energy
Tel: 780-988-8510 Ext. 227
Doren Quinton - QIS Capital