Aduro Acquires British Columbian Assets, Aces $30MM Equity Financing
Aduro has announced the acquisition of producing assets, undeveloped land and infrastructure in the Monias area of British Columbia which closed December 18, 2008.
The assets consist of 9.9 mmcf per day of gas production. The properties are 100% operated and include two operated facilities with capacity of 20 mmcf per day as well as 100% ownership in an extensive network of pipelines, dehydration and compression infrastructure.
In conjunction with the acquisition, Aduro closed a $30 million private placement equity financing and secured a revolving operating loan facility with ATB. KERN Partners Ltd., ARC Financial Corp., and Aduro's existing investors were the major participants in this equity financing.