PetroFrontier Corp. Announces Credit Facility Extensions

PetroFrontier Corp., a junior energy company based in Calgary, has announced amendments to its credit facilities. The company reached agreements with Kasten Energy Inc. and Tailwind Capital Partners Inc. to extend the maturity dates of several credit instruments until March 31, 2025. These facilities, initially set to mature in 2022, involve significant debts from previous years, totaling over $8 million. The extension agreements exclude any conversion of debt into equity, maintaining current debt structures.

The facility with Kasten includes a 2016 Debenture and two loans from 2019 and 2021, which had a combined outstanding amount of nearly $6 million as of March 2023. A similar extension applies to the Tailwind loan, amounting to approximately $2.3 million, with no provisions made for converting the debt into company shares.