Value Microcaps Junior Energy

[10 bagger]

SEQ.to/SHGCF

ANY FURTHER NEWS ON THIS EXTENTION..

Shoreline Energy Corp. (TSX: SEQ) ("Shoreline" or the "Company") is pleased to announce that it has received a 30 day extension from its lender ATB Financial to comply with certain working capital covenants under the terms of its loan facility. Shoreline requested the extension in order to have adequate time to complete closing of a new credit facility secured against its US assets which are not included in the Company's current borrowing base.

Since Shoreline's March 31, 2013 breach of its working capital covenant, the Company has improved its working capital deficit by approximately $6.5 million, partially as a result of a the sale of a non core asset and from the sale of flow through shares for gross proceeds of $5,600,000.


The Company delayed its 1st quarter dividend while accommodating the closing of its common equity private placement and delayed the 2nd quarter dividend to accommodate the closing of its flow through share private placement. The Company intends to return to its regular quarterly dividend schedule and declare a total $0.48 per share in dividends for 2013.