CALGARY,
AB, June 28, 2022 /CNW/ - Lucero Energy Corp.
("Lucero" or the "Company") (TSXV: LOU) (OTCQB:
PSHIF) is pleased to announce the Company's senior secured credit
facility (the "Credit Facility") has been set at
US$180 million, providing Lucero with
significant financial liquidity. The maturity date of the
Credit Facility is May 2024, subject
to semi-annual reviews by the lenders to confirm the credit
capacity of the Company, which will occur no later than
May 31 and November 30 annually.
The Credit Facility syndicate will include CIBC (as sole
bookrunner and lead arranger), Bank of Montreal, Royal Bank of Canada, National Bank of Canada and ATB Financial.
About Lucero Energy
Corp.
Lucero is an oil company engaged in the acquisition,
development, and production of high-quality oil-weighted assets in
the North Dakota Bakken / Three Forks. The Company's
strategic priorities include managing with balance sheet strength,
a focus on asset quality and robust capital efficiencies,
management of corporate production decline profile for
sustainability and using funds flow to maintain or grow the asset
base with the ultimate goal being a return of capital to
shareholders.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Lucero Energy Corp.