Prairie Provident repays $20 million of senior secured facility

Chicago, March 7 – Prairie Provident Resources Inc. said that it would use the proceeds from non-core asset sales to make a $20 million reduction on its senior secured credit facility, according to a notice.

The other $4.2 million of proceeds will be used to increase its working capital position.

The company intends to continue with non-core property dispositions to enhance its financial flexibility.

The company is a Calgary, Alta., company engaged in the exploration and development of natural gas and light oil in Alberta.

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