June 30, 2017 / 6:15 PM / 3 months ago

BRIEF-Cardinal Energy closes Light Oil acquisition

June 30 (Reuters) - Cardinal Energy Ltd:

* Cardinal Energy Ltd announces closing of Light Oil acquisition

* Cardinal does not expect to make any changes to its dividend per common share in 2017

* Expects to use proceeds from these sales to reduce bank debt in Q3 and Q4 of 2017

* Co’s credit facilities were increased to $325 million, of which about $232 million is currently drawn after giving effect to acquisition

* Total purchase price for acquisition, net of preliminary adjustments, was about $300 million, reduction of $20 million from original estimate Source text for Eikon: Further company coverage:

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