Petrocapita Income Trust
CNSX : PCE.UN

Petrocapita Income Trust

August 11, 2016 09:00 ET

Petrocapita Announces Proceeds of $9.036 Million From Debentures

CALGARY, ALBERTA--(Marketwired - Aug. 11, 2016) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Petrocapita Income Trust (CSE:PCE.UN) ("Petrocapita" or the "Trust") announces gross proceeds to date of $4,036,000 from the sale of its 8% secured convertible debentures (the "Convertible Debentures") pursuant to its previously announced private placement offering of these Convertible Debentures.

Additionally, Petrocapita announces gross proceeds from the sale of a $5,000,000 secured debenture (the "Debenture") of which $3,000,000, plus or minus any final post closing adjustments, was spent for the acquisition of the assets of Palliser Oil and Gas Corporation pursuant to its previously announced private placement offering of this Debenture and the acquisition.

Details related to the Convertible Debentures closings to date, the Debenture closing, and the acquisition have been filed with the Canadian Securities Exchange (www.theCSE.com).

About Petrocapita

Petrocapita Income Trust is a Specified Investment Flow Through trust developing and acquiring heavy oil production and infrastructure assets largely in the Lloydminster area of east central Alberta and west central Saskatchewan through its wholly owned subsidiary, Petrocapita Oil and Gas LP. It owns and operates 432 gross (409.7 net) oil wells, 89 gross (20 net) gas wells, 30 gross (29.2 net) approved produced water disposal wells, 19 produced water disposal facilities, 3 custom oil processing facilities, 2 natural gas compressor stations, 75.21 km of pipelines, oil well service rigs, fluid haul tractors and trailers, motor graders and well site processing equipment. It is seeking accretive opportunities to acquire both oil and gas production and complimentary midstream assets during a cyclical low in oil and gas markets.

Contact Information

  • Petrocapita GP I Ltd., as Administrator
    of Petrocapita Income Trust
    Mr. Alex Lemmens
    President and Chief Executive Officer
    (587) 393-3456

    Ms. Janet Stillwell
    Investor Relations
    (587) 393-3456