Tree Frog Forestry News

Pinnacle Renewable Energy Announces Agreement with Lenders for Amendments to Credit Facility to Improve Financial Flexibility

By pinnacle Renewable Energy Inc.
Cision Newswire
June 29, 2020
Category: Business & Politics
Region: Canada, United States

VANCOUVER, BC – Pinnacle Renewable Energy announced it has reached an agreement with its lenders to amend the Company’s existing credit agreement. The terms of the amendment are temporary in nature and are designed to improve financial flexibility for the Company through the end of June 2021. …The amendment provides Pinnacle with an appropriate level of flexibility during the period of economic uncertainty associated with COVID-19 to continue advancing previously announced growth projects in both western Canada and Alabama. …Pinnacle is the third largest [wood pellet] producer in the world. …The Company operates eight industrial wood pellet production facilities in western Canada and one in Alabama, with two additional facilities under construction in Alberta and Alabama.

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