CALGARY, Jan. 16, 2018 /CNW/ – Cona Resources Ltd. (“Cona” or the “Company”) (TSX: CONA) is pleased to announce debt reduction and a certain asset disposition program.
Cona’s operations are supported by the Company’s financial flexibility. Cona’s capital structure includes a $325.0 million credit facility and a term loan that matures on July 28, 2020. At December 31, 2017, $188.4 million was drawn on the Company’s credit facility and, during the fourth quarter of 2017, Cona reduced the outstanding term loan to $140.0 million from $160.0 million.
Cona has identified a number of assets that, if … Continue Reading