BRIEF-Connacher Oil and Gas intends to file for CCAA protection

Mon May 16, 2016 1:29pm EDT
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May 16 (Reuters) - Connacher Oil And Gas Ltd :

* Connacher Oil and Gas Limited intends to file for CCAA protection and receives commitments for up to US$20 million of financing

* To seek approval to initiate sale and investment solicitation process to be conducted in conjunction with ccaa proceedings

* At this time, there are no intended changes to management team or composition of board of directors of company

* Will seek approval of appointment of Ernst & Young Inc. as monitor to oversee ccaa proceedings

* Special committee of board determined it was in best interests of company to apply for creditor protection under CCAA Source text for Eikon: Further company coverage: