(TSX: TWM)
CALGARY,
AB, Aug. 30, 2024 /CNW/ - Tidewater Midstream
and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX:
TWM) is pleased to announce that Tidewater Renewables Ltd.
("Tidewater Renewables") has announced, with the support of its
debt capital providers, an interim extension of the maturity of its
$175 million first lien senior credit
facility, and its $25 million of
additional debt capacity under the second lien term debt facility,
from August 30, 2024, to September 18, 2024.
This extension provides Tidewater and Tidewater Renewables with
the additional time to complete the proposed transaction, which was
announced August 15, 2024.
ABOUT TIDEWATER MIDSTREAM
Tidewater is traded on the TSX under the symbol "TWM".
Tidewater's business objective is to profitably grow and create
shareholder value in the North American natural gas, natural gas
liquids, crude oil, refined product, and renewable energy value
chain. Its operations include downstream facilities, natural gas
processing facilities, natural gas liquids infrastructure,
pipelines, storage, and various renewable initiatives. To
complement its infrastructure asset base, the Corporation also
markets crude, refined product, natural gas, natural gas liquids
and renewable products and services to customers across
North America. Tidewater is a
majority shareholder of Tidewater Renewables. Additional
information relating to Tidewater is available on SEDAR+ at
www.sedarplus.ca and at https://www.tidewatermidstream.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The use
of any of the words "anticipate", "continue", "estimate", "expect",
"may", "will", "intend", "project", "should", "believe" and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. More particularly, this press release contains
statements concerning the expectations regarding the closing of the
proposed transaction and the timing thereof.
Although the forward-looking statements contained in this press
release are based upon assumptions which management of the
Corporation believes to be reasonable, the Corporation cannot
assure investors that actual results will be consistent with these
forward-looking statements. Any forward-looking statements
contained in this press release represent expectations as of the
date of this press release and are subject to change after such
date. However, the Corporation is under no obligation (and the
Corporation expressly disclaims any such obligation) to update or
alter any statements containing forward-looking information, the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by law.
With respect to the forward-looking statements contained in this
press release, the Corporation has made assumptions regarding the
successful negotiation of definitive agreements regarding the
proposed transaction; and the closing of the proposed transaction,
the timing thereof and the ability of the parties to satisfy all
conditions related thereto.
Forward-looking statements are provided herein for the purpose
of giving information about the proposed transaction referred to
above. Readers are cautioned that such information may not be
appropriate for other purposes. The completion of the proposed
transaction is subject to the completion of all required
documentation, financing and regulatory approvals. In addition, the
Corporation is subject to a number of risks and uncertainties, many
of which are beyond the Corporation's control. Such risks and
uncertainties include the factors discussed under "Risk Factors" in
the Corporation's annual information form for the year ended
December 31, 2023 and the most recent
management's discussion and analysis.
All the forward-looking statements in this press release are
qualified by the cautionary statements herein. Further information
about factors affecting forward-looking statements and management's
assumptions and analysis thereof is available in filings made by
the Corporation with Canadian securities commissions available on
SEDAR+ at www.sedarplus.ca.
SOURCE Tidewater Midstream and Infrastructure Ltd.