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CALGARY, ALBERTA--(Marketwire - June 14, 2012) - Pace Oil & Gas Ltd. (TSX:PCE) ("Pace" or the "Company") has completed its annual credit review with a syndicate of banks resulting in a $25 million increase to its credit facilities, bringing the total available under the facilities to $300 million effective June 15, 2012. This represents a 9% increase from the previous borrowing base of $275 million and is a direct result of Pace's solid reserve base and its continued strong results. The terms of the credit facility remain unchanged from the previous arrangement. The syndicate of banks is led by Canadian Imperial Bank of Commerce with National Bank of Canada as syndication agent and includes The Bank of Nova Scotia, Bank of Montreal, Alberta Treasury Branches and HSBC Bank Canada. |
