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| Home : Anderson Energy Ltd. Confirms Extension of Credit Facility |
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Jul 11
2013 |
Anderson Energy Ltd. Confirms Extension of Credit Facility |
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CALGARY, ALBERTA--(Marketwired - July 11, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (TSX:AXL) confirms that pursuant to the recent borrowing base review of its existing credit facilities, the borrowing base was confirmed at the current level of $65 million. The maturity date of the credit facilities was extended to September 30, 2013 as the Company continues its process to identify, examine and consider a range of strategic alternatives with a view to enhancing shareholder value. The strategic alternatives may include, but are not limited to, a sale of all or a material portion of the assets of Anderson, and/or a drilling joint venture, either in one transaction, or in a series of transactions, the outright sale of the Company, or a merger or other strategic transaction involving Anderson and a third party. It is Anderson's current intention to not disclose developments with respect to its strategic alternatives process unless and until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary in accordance with applicable law. The Company cautions that there are no assurances or guarantees that the process will result in a transaction or, if a transaction is undertaken, the terms or timing of such a transaction or the impact it will have on the Company's financial position. The Company has not set a definitive schedule to complete the evaluation. |
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| Source:http://www.marketwire.com/mw/release.do?id=1810231&sourceType=3 |
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