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State: 25.04.2025 | 3AM
Tue, 25.03.2025       Tidewater Midstream and Infrastructure Ltd.
CA8864531097

(TSX: TWM)

CALGARY, AB, March 25, 2025 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce the successful closing of the previously announced sale of its Brazeau River Complex roadway network (the "BRC Roadway Network") to Canadian Resource Roadways LP ("CRR") for total proceeds of $24 million (the "Transaction"). Of the $24 million in total proceeds, $22.5 million was received upon closing of the Transaction, with the balance expected to be received on or before December 31, 2025. The proceeds will be used to permanently repay amounts outstanding on the Corporation's three-year delayed draw term loan. The BRC Roadway Network is a non-core asset of Tidewater and the disposition of the BRC Roadway Network is expected to have an immaterial impact to Tidewater's 2025 operating results.

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