Prairie Provident Streamlines Portfolio, Reduces Debt

Prairie Provident Resources (TSE:PPR) has released an update.

Prairie Provident Resources has completed the sale of its Evi and non-core Provost area assets in Alberta, obtaining net proceeds of approximately $24.2 million, which will primarily be used to reduce its debt and bolster working capital. The company has divested itself of significant abandonment and reclamation obligations, and is now poised to concentrate on developing its central and southern Alberta properties while continuing to sell non-core assets for enhanced financial agility.

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