Niko Announces Closing of Settlement Agreement
Retrieved on:
Tuesday, January 14, 2020
CALGARY, Alberta, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Further to our prior press release of December 27, 2019, Niko Resources Ltd. (Niko or the Company) announces the closing of the settlement agreement between the Companys indirect subsidiary, Niko (NECO) Ltd. (Niko NECO), Reliance Industries Limited and BP Exploration (Alpha) Limited is expected to occur on January 15, 2020.
Key Points:
- CALGARY, Alberta, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Further to our prior press release of December 27, 2019, Niko Resources Ltd. (Niko or the Company) announces the closing of the settlement agreement between the Companys indirect subsidiary, Niko (NECO) Ltd. (Niko NECO), Reliance Industries Limited and BP Exploration (Alpha) Limited is expected to occur on January 15, 2020.
- Niko also announces that, pursuant to the terms of the Companys Amended and Restated Facilities Agreement dated July 18, 2016 with its senior lenders (Lenders), the Lenders have appointed a receiver over the shares of Niko NECO and exercised their rights over the bank account of Niko NECO that the net proceeds of the D6 settlement are to be deposited into.
- For further information, please see the Companys Managements Discussion and Analysis for the year ended March 31, 2019 and other documents filed on the Companys SEDAR profile at www.sedar.com .
- Also, please contact: Niko Resources Ltd. (403) 2621020, Glen Valk, VP Finance & CFO.