Pieridae Energy (TSE:PEA) has released an update.
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Pieridae Energy has successfully sold its Goldboro assets and will use the proceeds, along with a private placement of common shares, to repay its high-interest bridge loan and reduce overall debt. Additionally, the company is shutting in some production due to low natural gas prices, signaling a strategic focus on its upstream and midstream operations. This series of moves aims to strengthen Pieridae’s financial position and provide a clearer investment profile for shareholders.
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