Trident Exploration  Corp.
photo - landscape photo - mountains photo - stream     
About CBM
Health, Safety & Environment
Press Releases
Quarterly and Annual Report Request
Extractive Sector Transparency Measures Act (ESTMA)
Whistleblower Hotline
Contact Us

August 2, 2017

Trident Exploration Corp. Announces New Credit Facilities

Trident Exploration Corp. (“Trident” or the “Company”) announces that through negotiations with two financial institutions, it has entered into an extendible revolving credit facility (“Revolving Credit Facility”) with a capacity of $20 million and a senior secured second lien term loan facility (“Term Loan”) for proceeds of $60 million.

The Revolving Credit Facility carries a variable rate on borrowings that approximates 4.75% per annum and matures on May 31, 2019, with the capacity to annually extend each May commencing May 2018. The Term Loan carries a fixed rate of 7.15% per annum and matures on July 31, 2021.

In conjunction with the financing, the Company issued 5.1 million common share purchase warrants, each exercisable into a Trident common share on a one-for-one basis at the holder’s option plus $0.87 per warrant, subject to customary adjustments in accordance with the terms thereof. The warrant issue represents 2.4% of the 208.7 million Trident common shares outstanding. Cash costs attributed to the closing amounted to $75,000 plus legal costs incurred.

The use of proceeds from the Term Loan repaid the Company’s existing debt of $56 million under its maturing facility plus added $4 million of working capital. The Revolving Credit Facility is undrawn and fully available.


Trident Exploration Corp.
Alan Withey
President & CEO

Trident Exploration Corp.
J.P. Buyze
Chief Financial Officer

© Trident Limited Partnership | Trident Exploration (Alberta) Corp.         Site maintained by Tiller Digital Inc..