CALGARY, AB, June 30, 2020 /CNW/ - TORC Oil & Gas
Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce
the Company's credit facility has been confirmed at $425 million, with the borrowing base
determination dates under the credit agreement to be amended to May
and November annually, from April and October. TORC has
received formal lender commitments from all syndicate members and
expects credit documentation to be completed by July 3, 2020.
TORC Oil & Gas Ltd. is a Calgary based company active in the
acquisition, exploration, development and production of crude oil
and natural gas in Western
Canada.
www.torcoil.com
Forward Looking Statements
This press release contains forward–looking statements and
forward–looking information (collectively "forward–looking
information") within the meaning of applicable securities laws
relating to the expected timing for completion of credit
documentation. This forward-looking information is based on
certain key expectations and assumptions made by TORC's management.
Although the Company believes that the expectations and assumptions
on which such forward–looking information is based are reasonable,
undue reliance should not be placed on the forward–looking
information because TORC can give no assurance that they will prove
to be correct. Since forward–looking information addresses future
events and conditions, by its very nature it involves inherent
risks and uncertainties. Actual results could differ materially
from those expressed in the forward–looking information and,
accordingly, no assurance can be given that any of the events
anticipated by the forward–looking information will transpire or
occur, or if any of them do so, what benefits that the Company will
derive there from. Management has included the forward–looking
information provided in this press release in order to provide
securityholders with a more complete perspective on TORC's future
operations and such information may not be appropriate for other
purposes. The forward–looking statement is made as of the
date of this press release and TORC disclaims any intent or
obligation to update publicly any forward looking information,
whether as a result of new information, future events or results or
otherwise, other than as required by applicable securities
laws.
SOURCE TORC Oil & Gas Ltd.