BRIEF-Pine Cliff Energy announces $25 mln disposition of royalty assets

Mon Jun 27, 2016 10:18am EDT
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June 27 (Reuters) - Pine Cliff Energy Ltd

* Pine Cliff Energy Ltd. announces $25 million disposition of royalty assets

* Says disposition will have an effective date of June 1, 2016 and is expected to close on or around June 30, 2016

* Proceeds from disposition will be used to pay down bank indebtedness resulting in permanent reduction to co's borrowing facility

* Continues to work with its banking syndicate of Canadian financial institutions on its borrowing base redetermination Source text for Eikon: Further company coverage: