Anvil Channel Energy Solutions Closes $51.35 Million Acquisition Financing

HOUSTON, March 10, 2022 /PRNewswire/ — Anvil Channel Energy Solutions today announced the closing of a $51,350,000 senior secured term loan facility to ROK Resources, Inc., supporting the acquisition of producing oil and gas assets, primarily in Saskatchewan and Alberta, Canada of Federated Co-operatives Limited. The aggregate consideration paid for the acquisition was approximately 72 million Canadian dollars; Anvil’s loan facility has been sized at the USD equivalent for 65 million Canadian dollars.

“We are delighted to support ROK Resources in its next phase of growth. Chairman and CEO, Cam Taylor and his team have an outstanding track record and we look forward to partnering with them as they capitalize on future market opportunities. This transaction exemplifies Anvil’s flexible capital solutions supporting significant upstream acquisition and divestiture activity under tight timelines and extreme market volatility,” noted David O’DriscollPresident and CIO of Anvil Channel.

“We are delighted to have successfully executed this transformative transaction with the support of the Anvil team; their ability to react quickly to market changes during the underwriting process and to keep the deal on track has helped us. resulted in a successful closing for the benefit of our stakeholders,” said Cam TaylorCEO of ROK.

Anvil Channel provides debt capital to lower middle market companies with proven management teams active in the North American upstream energy market, seeking to accelerate their strategic growth ambitions through acquisition and development. Anvil’s ability to provide flexible capital under tight deadlines enables borrowers to seize opportunities despite heightened volatility in the industry.

Latham & Watkins LLP and Borden Ladner Gervais LLP acted as legal counsel to Anvil Channel.

About the Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy sector. With offices at Houston and Los Angeles, the company invests in narrowly defined areas of value-oriented oil and gas opportunities, backed by several blue-chip institutional investors. Anvil’s management team is comprised of seasoned energy investment professionals. More information is available on its website: http://www.anvilcp.com

About ROK Resources, Inc.
ROK is principally engaged in the exploration of oil and natural gas development business in Saskatchewan. Its head office is located at Regina, Saskatchewan, Canada and the common shares of ROK trade on the TSX Venture Exchange under the symbol “ROK”.

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SOURCE Anvil Channel Energy Solutions

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