CALGARY, ALBERTA -- (Marketwired - July 31, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to announce that it has closed the sale of its royalty interests in its Canadian land base to PrairieSky Royalty Ltd. for total gross proceeds of $9 million, as described in the Corporation's press release of July 25, 2014. The net proceeds of the sale were used to reduce total corporate indebtedness, including Shoreline's credit facilities with its senior secured lender, Alberta Treasury Branches, which have been reduced to approximately $13 million.
Investor Information
Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline offers investors a combination of value growth via lower risk development of additional oil reserves and production on its current lands. The Corporation's common shares and convertible unsecured subordinated debentures are currently listed on the TSX under the trading symbols "SEQ" and "SEQ.DB", respectively. Additional information regarding Shoreline is available under the Corporation's profile at www.sedar.com or at the Corporation's website, www.shorelineenergy.ca.
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Contact
Shoreline Energy Corp. Mr. Trevor Folk, Chief Executive Officer tfolk@shorelineenergy.ca
Shoreline Energy Corp. Mr. Kevin Stromquist, President & Chief Operating Officer kstromquist@shorelineenergy.ca
Shoreline Energy Corp. Calgary Office Suite 500, 500 - 4th Ave. SW Calgary, Alberta T2P 2V6 (403) 767-9066 www.shorelineenergy.ca
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CALGARY, ALBERTA -- (Marketwired - July 31, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to announce that it has closed the sale of its royalty interests in its Canadian land base to PrairieSky Royalty Ltd. for total gross proceeds of $9 million, as described in the Corporation's press release of July 25, 2014. The net proceeds of the sale were used to reduce total corporate indebtedness, including Shoreline's credit facilities with its senior secured lender, Alberta Treasury Branches, which have been reduced to approximately $13 million.
