Perpetual Energy Settles Litigation, Bolsters Finances

Perpetual Energy (TSE:PMT) has released an update.

Perpetual Energy Inc. has settled its long-standing Sequoia litigation with a $30 million payment plan and has strengthened its financial position by repaying a $2.7 million second lien term loan and redeeming senior secured notes. This resolution and repayment improve the company’s access to capital and allow for enhanced business opportunities. Perpetual’s management team is optimistic about advancing their business plans and unlocking value for stakeholders.

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