Tidewater Renewables Sells Interest in Rimrock Partnership to Reduce Debt

The latest update is out from Tidewater Renewables Ltd. ( (TSE:LCFS) ).

Tidewater Renewables Ltd. has completed the sale of its interest in the Rimrock Renewables Limited Partnership to Biocirc Canada Holdings Inc. for $7.8 million. The proceeds from this sale will be used to reduce the company’s outstanding debt, allowing Tidewater Renewables to concentrate on its core operations and future projects, such as its renewable diesel facility and sustainable aviation fuel project.

More about Tidewater Renewables Ltd.

Tidewater Renewables Ltd. is a Canadian energy transition company focused on producing low carbon fuels, including renewable diesel. The company was established to address the increasing demand for renewable fuels in North America and aims to efficiently convert various renewable feedstocks into low carbon fuels, with the objective of becoming a leading Canadian renewable fuel producer.

YTD Price Performance: -10.47%

Average Trading Volume: 25,734

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$28M

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