CALGARY, Nov. 16, 2017 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) has increased the syndicated senior credit facility to $120 million. The banking syndicate is led by Alberta Treasury Branches and includes Canadian Imperial Bank of Commerce and National Bank of Canada.
The facility is now comprised of a $110 million extendible revolving term credit facility and a $10 million operating facility. All other commercial terms remain the same with the next borrowing base review scheduled for May 31, 2018.
The increased facility allows Yangarra to shift capital spending, as necessary, from Q1 2018 into Q4 2017 to efficiently take advantage of drilling & completion services.
All reference to $ (funds) are in Canadian dollars.
Neither the TSX nor its Regulation Service Provider (as that term is defined in the Policies of the TSX) accepts responsibility for the adequacy and accuracy of this release.
SOURCE Yangarra Resources Ltd.
For further information: Jim Evaskevich, President & CEO, 403-262-9558
CORPORATE PROFILE Yangarra Resources Ltd. is a junior oil and gas company engaged in the exploration, development and production of natural gas and oil with operations in Western Canada, with a main focus on Central Alberta, where the Company has extensive infrastructure and land holdings. Growth Strategies Yangarra Resources is dedicated to creating value for its shareholders through its...