Razor Energy Corp. announced that it has completed the acquisition of certain non-operated working interest positions to consolidate its existing Kaybob Triassic Units 1 and 2 from an arm's length company for cash consideration of $4.9 million, subject to customary adjustments. The Kaybob Assets are characterized by low decline, light oil focused production with abundant infrastructure that directly complement Razor's existing asset portfolio. The Acquisition has been funded with Razor's existing cash reserves. The Acquisition increases Razor's operated working interest position in: Kaybob Triassic Unit #1 from 52.95% to 93.48%; and Kaybob Triassic Unit #2 from 73.25% to 100.00%. On a pro forma basis including this acquisition, using field production estimates, the company expects January 2018 production to exceed 4,900 boe/d, of which 85% is light oil and natural gas liquids.

The company has secured an increase of $15.0 million in its existing non-revolving term loan facility from Alberta Investment Management Corporation, on behalf of certain of AIMCo's clients, for an amended principal amount of $45.0 million. The terms of the Amended Term Loan Facility are materially unchanged from the term loan facility established in January, 2017. Principal continues to be due in January, 2021 with an interest rate of 10%, payable semi-annually. As consideration for the Amended Term Loan Facility, 255,600 common shares of Razor have been issued to AIMCo. The proceeds of the increased Term Loan Facility will be used by Razor to fund its development program and for general corporate purposes.