PetroFrontier (TSE:PFC) has released an update.
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PetroFrontier Corp. has finalized a $15.1 million funding agreement with DeerGarden Resources Ltd. to enhance its operations in the Cold Lake area of Alberta. The deal includes PetroFrontier receiving significant partnership units in exchange for its interests, with DeerGarden providing substantial financial contributions for development activities. The arrangement aims to optimize production and includes provisions for debt funding to help PetroFrontier manage its existing liabilities.
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