July 6, 2017 / 10:24 PM / a year ago

BRIEF-Paramount Resources to acquire Apache Canada

* Paramount Resources Ltd to acquire Apache Canada Ltd. for $459.5 million; Paramount and Trilogy Energy Corp. Agree to merge

* Paramount Resources Ltd - ‍paramount plans to fund Apache Canada acquisition with cash on hand and no debt will be assumed​

* Paramount Resources - once completed Apache Canada acquisition, merger to result in co having combined Q4 2017 production expected to exceed 90,000 boe/d

* Paramount Resources-‍paramount, upon acquiring Apache Canada & merging with Trilogy, to become montney, duvernay & deep basin focused intermediate E&P co

* Paramount Resources Ltd - ‍apache Canada acquisition is not conditional on completion of merger​

* Paramount Resources Ltd - ‍merger is conditional upon completion of Apache Canada acquisition and is targeted for completion in September 2017​

* Paramount Resources-co’s ‍credit facility has been increased from $100 million to $300 million and revolving term of facility has been extended to April 30, 2018​

* Paramount Resources - senior management of Paramount and Trilogy are expected to be part of Paramount management team following completion of merger

* Paramount Resources Ltd - it is anticipated that independent directors of trilogy will become directors of Paramount upon completion of merger

* Paramount Resources Ltd - Clayton Riddell to remain chairman, Jim Riddell to remain president and CEO of Paramount following completion of merger

* Paramount Resources Ltd - merger will not trigger any change of control payments Source text for Eikon: Further company coverage:

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