Prairie Provident Announces Loan Amendments and $13.2 Million Equity Rights Offering With $12 Million of Committed Participation

CALGARY, Alberta, Sept. 13, 2024 (GLOBE NEWSWIRE) -- September 13, 2024 – Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) announces an agreement to extend the maturity of its senior secured credit facility (the "First Lien Loan") to March 31, 2026 and enhance its flexibility with modified covenants. The Company also announces a $13.2 million rights offering (the "Rights Offering") supported by participation commitments of $12 million, comprised of $11.6 million from its largest shareholder, PCEP Canadian Holdco, LLC ("PCEP"), and $400,000 from directors and management, as well as complementary amendments to its outstanding second lien notes.

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