Gran Tierra amends credit facility to make issuer bid, asset sales

By Marisa Wong

Morgantown, W.Va., Feb. 15 – Gran Tierra Energy Inc. entered into a fifth amendment to its credit agreement dated Sept. 18, 2015 with Bank of Nova Scotia as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, among other things, provides for the repurchase of up to an aggregate of $35 million of the company’s issued and outstanding shares of common stock through the normal course issuer bid made on Feb. 8 and provides for the sale or disposition of some property.

Gran Tierra is an oil and gas exploration and production company based in Calgary, Alta.

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