Petrocapita Announces Aggregate Preferred Unit and

CALGARY, Alberta, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Petrocapita Income Trust (CSE:PCE.UN) (“ Petrocapita” or the “Trust ”) announces the close of a private placement of a $2,000,000 secured debenture (the “Debenture” ), the close of an additional $289,900 of its 9% Preferred Trust Units in Petrocapita Income Trust and $66.68 tied Class ‘A’ Shares in Petrocapita Energy Corp. pursuant to its previously announced $20 million Preferred Unit Offering, and the close of an additional $40,000 from the sale of its 8% secured convertible debentures (the “Convertible Debentures” ) pursuant to its previously announced private placement offering of these Convertible Debentures.  

The Debenture funds are earmarked specifically for re-activation of the oil and gas assets of the Limited Partnership in Alberta and for general corporate purposes. The Debenture has a maturity date of March 01, 2019 and bears interest at the rate of 12.5% per annum, payable quarterly in arrears.

Details related to the Tied Offering and the Convertible Debenture have been filed with the Canadian Securities Exchange ( www.theCSE.com ) and under Petrocapita’s profile on SEDAR ( www.sedar.com ).

About Petrocapita

Petrocapita Income Trust is a Specified Investment Flow Through trust developing and acquiring heavy oil production and infrastructure assets in the Lloydminster area of east central Alberta and west central Saskatchewan through its wholly owned subsidiary, Petrocapita Energy Corp.  Petrocapita owns, operates or has an interest in 445 gross (426.3 net) oil wells, 91 gross (20 net) gas wells, 30 produced water disposal wells, 19 produced water disposal facilities, 3 custom oil processing facilities, 4 natural gas compressor stations, 127.25 km in pipelines, oil well service rigs, fluid haul tractors and trailers, and well site processing equipment. It is seeking accretive opportunities to acquire both oil production and complimentary mid-stream assets during a cyclical low in the oil and gas markets.

For further information, please contact:

Alex Lemmens, President Telephone: (587) 393-3460

OR

Steve Elliott, Investor Relations Telephone: (587) 700-8408