CALGARY, Alberta, Aug. 30, 2017 (GLOBE NEWSWIRE) -- Petrocapita Income Trust (CSE:PCE.UN) (“Petrocapita” or the “Trust”) announces the close of an additional $221,000 of its 9% Preferred Trust Units for a total of $2,391,000 to date, and $50.83 tied Class ‘A’ Shares of Petrocapita Energy Corp. (“PEC”) for a total of $549.93 to date pursuant to the February 08, 2017 announcement of the $20 million Preferred Unit Offering.
Details related to the Tied Offering have been filed with the Canadian Securities Exchange (www.theCSE.com) and under Petrocapita’s profile on the system for electronic disclosure and retrieval (SEDAR) at www.sedar.com.
PEC has provided notice to the applicable securities regulatory authorities in Canada as required under Section 2.42(2) of National Instrument 45-106 – Prospectus Exemptions (part of the Canadian securities regulatory regime) in order to allow the Class ‘A’ Shares of PEC to be exchanged for common units of the Trust in the circumstances described in the offering memorandums for the Tied Offering of the Trust and PEC filed on SEDAR, and PEC has not received any objections in writing from such regulators within the required ten (10) day period of receipt of such notice by such regulators.
About Petrocapita
Petrocapita Income Trust is a Specified Investment Flow Through trust developing and acquiring heavy oil production and infrastructure assets in the Lloydminster area of east central Alberta and west central Saskatchewan through its wholly owned subsidiary, Petrocapita Oil and Gas L.P. Petrocapita owns, operates, or has an interest in 445 gross (426.3 net) oil wells, 89 gross (20 net) gas wells, 19 produced water disposal facilities, 3 custom oil processing facilities, 4 natural gas compressor stations, 72.75 km in pipelines, oil well service rigs, fluid haul tractors and trailers, and well site processing equipment. It is seeking accretive opportunities to acquire both oil production and complimentary midstream assets during a cyclical low in the oil and gas markets.