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Petrocapita Provides an Update on Proceeds of Debentures

Posted On April 20th
By : The Canadian Press
Comment: Off

FOR: PETROCAPITA INCOME TRUST
CNSX SYMBOL: PCE.UN
CSE SYMBOL: PCE.UN
CSE SYMBOL: PCE.UN.CN

Date issue: April 20, 2017
Time in: 8:16 PM e

Attention:

CALGARY, ALBERTA--(Marketwired - April 20, 2017) - Petrocapita Income Trust (CNSX:PCE.UN)(CSE:PCE.UN)(CSE:PCE.UN.CN) ("Petrocapita") announces the close of an additional $333,000, for aggregate gross proceeds to date of $7,285,000 from the sale of its 8% secured convertible debentures (the "Convertible Debentures") pursuant to its previously announced private placement offering of these Convertible Debentures.

This is in addition to the previously announced gross proceeds from the sale of a $5,000,000 secured debenture (the "Debenture") of which $3,000,000, plus or minus any final post-closing adjustments was spent for the acquisition of the assets of Palliser Oil and Gas Corporation pursuant to its previously announced private placement offering of this Debenture and the acquisition.

Details related to the Convertible Debenture closings to date have been filed with the Canadian Securities Exchange (www.theCSE.com) and under Petrocapita's profile on SEDAR (www.sedar.com).

About Petrocapita

Petrocapita Income Trust is a Specified Investment Flow Through trust developing and acquiring heavy oil production and infrastructure assets in the Lloydminster area of east central Alberta and west central Saskatchewan through its wholly owned subsidiary, Petrocapita Oil and Gas L.P. Petrocapita owns and/or operates 445 gross (426.3 net) oil wells, 91 gross (22 net) gas wells, 19 produced water disposal facilities, 3 custom oil processing facilities, 4 natural gas compressor stations, 72.75 km in pipelines, oil well service rigs, fluid haul tractors and trailers, motor graders, and well site processing equipment. It is seeking accretive opportunities to acquire both oil production and complimentary midstream assets during a cyclical low in the oil and gas markets.

- END RELEASE - 20/04/2017

For further information:
Alex Lemmens
President
(587) 393-3460
OR
Steve Elliott
Investor Relations
(587) 700-8408

COMPANY:
FOR: PETROCAPITA INCOME TRUST
CNSX SYMBOL: PCE.UN
CSE SYMBOL: PCE.UN
CSE SYMBOL: PCE.UN.CN

INDUSTRY: Energy and Utilities - Equipment, Energy and Utilities - Oil and Gas , Financial Services - Investment Services and Trading RELEASE ID: 20170420CC0137

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

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