HIGHWOOD ASSET MANAGEMENT LTD. ANNOUNCES EXPANDED CREDIT FACILITY TO $140 MILLION, OPERATIONAL AND GUIDANCE UPDATE AND COMMENCEMENT OF 2H2025 DRILLING PROGRAM

/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/

CALGARY, AB, July 3, 2025 /CNW/ - 

Credit Facility Update

Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce that the annual borrowing base redetermination of the Company's credit facility has been completed. As a result of another successful drilling program that delivered significant PDP reserves growth, the borrowing base has been increased from $120 million to $140 million, comprised of a $10 million operating facility and $130 million syndicated credit facility (together, the "Credit Facilities"). The maturity date of the Credit Facilities has been extended from August 2, 2026 to August 2, 2027. If not extended, the Credit Facilities would be repayable on August 2, 2026. The next semi-annual borrowing base determination is scheduled on or before November 30, 2025.