Prairie Provident Resources Inc. is pleased to announce the appointment of Mr. Glenn Hamilton and Ms. Kathy Turgeon to its Board of Directors . "We are excited to have Glenn and Kathy join the Board and look forward to their contributions to the continuing transformation of the Company, which began with the recapitalization completed in May 2023. They bring extensive experience serving as senior executives and members of [...]
Prairie Provident Resources Inc. , is pleased to announce the completion of its previously announced recapitalization transactions . The Recapitalization included the following principal transactions: closing today of the Company's brokered private placement offering of units of the Company at a price of C$0.09 per Unit, for aggregate gross proceeds to the Company of C$4 million ; completion on March 30, 2023 of the [...]
Prairie Provident Resources Inc. announces our operating and financial results for the first quarter ended March 31, 2023. PPR's interim financial statements and related Management's Discussion and Analysis are available on our website at www.ppr.ca and filed on SEDAR at www.sedar.com. MESSAGE TO SHAREHOLDERS Patrick McDonald, Interim President and CEO commented: "The operations team has done an excellent job of [...]
Prairie Provident Resources Inc. announces amendments to the terms of the equity financing and debt settlement components of its previously announced recapitalization transactions . Pursuant to the amended terms, the Company's brokered private placement equity offering of units on a commercially reasonable efforts basis, for gross proceeds of C$4,000,000, will be conducted at an amended issue price of C$0.09 per Unit [...]
Prairie Provident Resources Inc. announces our operating and financial results for the fourth quarter and year ended 2022. PPR's audited annual consolidated financial statements and related Management's Discussion and Analysis and annual information form dated March 31, 2023 are available on our website at www.ppr.ca and filed on SEDAR at www.sedar.com. MESSAGE TO SHAREHOLDERS Although the Company achieved production only [...]
Prairie Provident Resources Inc. is pleased to announce that it has completed the issuance of second lien notes due December 31, 2024 in the principal amount of US$3.64 million with certain affiliates of PCEP Canadian Holdco, LLC . The Second Lien Financing is being completed in connection with the recently announced recapitalization transactions . PCEP is controlled by the investment management arm of one of the world's [...]
Prairie Provident Resources Inc. is pleased to announce that it has released an updated investor presentation in connection with its recently announced recapitalization transactions . The presentation outlines the Company's pro-forma financial profile and guidance, investment highlights, capital expenditure and optimization program, growth opportunities in its deep inventory of low-risk, in-fill drilling, and details on [...]
Transactions include Senior Credit Facility Extension, New Second Lien Financing, Repayment of Subordinated Notes with Equity and related Warrant Exercise, and Brokered Equity Financing Completion will significantly reduce total indebtedness by $68 million, repositioning the Company to be 1.5x to 2.0x exit debt-to-EBITDA with estimated free funds flow of $17 million to $22 million in 2023 and further debt reductions [...]
Prairie Provident Resources Inc. is pleased to announce the results of our independent 2022 year-end reserves evaluation conducted by Sproule Associates Limited with an effective date of December 31, 2022 . MESSAGE TO SHAREHOLDERS The 2022 year-end updated reserves evaluation highlights reserve additions in all categories year over year driven by positive technical revisions associated with reactivations and [...]
Prairie Provident Resources Inc. is pleased to announce the appointment of Patrick R. McDonald, who has served as Chairman of the Company since March 2011 and continues in that role, as Interim Chief Executive Officer. Mr. McDonald succeeds R. Anthony Berthelet, who previously served as President and Chief Executive Officer and a director of the Company. Mr. McDonald has 40 years of experience in North American upstream [...]
Prairie Provident Resources Inc. announces that its wholly-owned subsidiary, Lone Pine Resources Inc. , did not receive a favourable decision in its arbitration claim under the North American Free Trade Agreement , arising from actions taken by the Government of Quebec in 2011 to cancel, without compensation, certain oil and gas rights that had been held by Prairie Provident Resources Canada Ltd. LPRI considered that the [...]
Prairie Provident Resources Inc. today announces our financial and operating results for the three and nine months ended September 30, 2022. PPR's unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2022 and related Management's Discussion and Analysis for the same periods are available on our website at www.ppr.ca and filed on SEDAR. MESSAGE TO SHAREHOLDERS Tony [...]
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