CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Trident Exploration Corp. ("Trident" or "the Company") announces that it successfully completed financings for up to C$180 million under two secured debt facilities.
The financings include a C$36.4 million facility with Alberta Treasury Branches and a US$130 million (C$143.6 million) term loan, maturing October 2017, with Cerberus Business Finance, LLC and TPG Specialty Lending, Inc.
Proceeds of the financings were used in part to repay the Company's previously outstanding secured indebtedness and the balance will be used for general corporate purposes. Immediately following the financings, Trident had an undrawn facility with Alberta Treasury Branches and in excess of C$30 million of cash on its balance sheet.
Web address: www.tridentexploration.ca
This press release contains certain forward-looking information. The words "expect", "anticipate", "believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include information concerning the use of proceeds of the financings.
The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Trident is currently active and other factors management believes are appropriate in the circumstances. Trident undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.
Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Trident's control. These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements.