Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Pieridae Energy year end reports

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

CALGARY, Alberta, March 15, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (TSXV:PEA) is pleased to announce that it has filed its audited annual financial statements and related management’s discussion and analysis for the fiscal year ended December 31, 2017 on the System for Electronic Document Analysis and Retrieval (“SEDAR”). On October 24, 2017, Pieridae Energy Limited and Pétrolia Inc. were amalgamated pursuant to a plan of arrangement effected pursuant to section 192 of the Canada Business Corporations Act. Pieridae is a reporting issuer or the equivalent in British Columbia, Alberta and Québec. It is listed on the TSX Venture Exchange under the symbol PEA.

Pieriade’s mission is to build shareholder value by becoming the first fully integrated independent LNG producer in Canada. The Company is focused on the development of the Goldboro LNG Facility and the acquisition and development of resource properties for the extraction of natural gas for use as feed gas in the production of LNG.

Selected financial results

SELECTED FINANCIAL RESULTS
($000 except per share information)
  
 Three months ended Dec. 31,
Year ended Dec. 31,
 2017 2016 2017 2016
 Post-
amalgamation
 Post-
amalgamation
 
Selected financial results    
Net loss attributable to equity holders($3,091)($5,447)($8,825)($14,002)
Net loss per share (basic and diluted)                       ($0.067)($0.348)($0.237)($0.900)
Cash and cash equivalent including cash
and cash equivalent held for exploration
  purpose
$21,238$197$21,238$197
Working capital$10,379($24,260)$10,379($24,260)
Exploration and evaluation assets$42,827 -$42,827 -
     

About Pieridae Energy

Pieridae Energy is a Canadian corporation based in Calgary, Alberta focused on the development of fully integrated energy activities, from upstream production to the sale of LNG. Pieridae Energy’s main project is the Goldboro LNG Project and, following Pieridae Energy’s first acquisition of resources in New Brunswick and the completion of the merger with Pétrolia Inc., Pieridae Energy has embarked on a strategy to consolidate natural gas reserves in key natural gas basins to develop new international markets for Canadian and US natural gas. Pieridae Energy will continue to seek to build a long-term portfolio of natural gas to supply the Goldboro LNG Project. Pieridae Energy is on the leading edge of the re-integration of the LNG value chain in North America. Pieridae Energy has 50,498,852 shares issued and outstanding which trade on the TSX Venture Exchange (PEA).

For further information please contact:

Alfred Sorensen, Chief Executive Officer                                            Mario Racicot, Chief Financial Officer
Telephone: (418) 657-1966 Telephone: (418) 657-1966


Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).