Perpetual Energy (TSE:PMT) has released an update.
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Perpetual Energy Inc. has received court approval for its settlement with the trustee of bankrupt Sequoia Resources, ending years of litigation and releasing a $10.0 million initial payment from escrow. This settlement allows Perpetual to focus on its business plans and pursue new opportunities with an improved capital position and $29.7 million in available liquidity. The company is optimistic about moving forward and enhancing shareholder value.
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