CALGARY, ALBERTA — May 23, 2018—Pieridae Energy Limited (PEA-TSXV) is pleased to announce that it has filed its first quarter unaudited condensed interim financial statements and related management’s discussion and analysis (“MD&A”) for the three months ended March 31, 2018. Pieridae is a reporting issuer or the equivalent in British Columbia, Alberta and Québec. It is listed on the TSX Venture Exchange under the symbol PEA. Pieridae's unaudited condensed interim financial statements and MD&A are available on our website at www.pieridaeenergy.com, and are filed on SEDAR at www.sedar.com.
Pieriade’s mission is to build shareholder value by becoming the first fully integrated independent LNG producer in Canada. The Company is focused on the development of the Goldboro LNG Facility and the acquisition and development of resource properties for the extraction of natural gas for use as feed gas in the production of LNG.
SELECTED FINANCIAL RESULTS
($000 except per share information)
| For the three months ended March 31, 2018 | For the three months ended March 31, 2017 | |
|---|---|---|
| 2018 | 2017 | |
| Net loss attributable to equity holders | ($2,942) | ($2,058) |
| Net loss per share (basic and diluted) | ($0.06) | ($0.06) |
| As at March 31, 2018 | As at December 31, 2017 | |
| Cash and cash equivalent including cash and cash equivalent held for exploration purpose | $18,925 | $21,238 |
| Working capital | $8,098 | $10,379 |
| Exploration and evaluation assets | $43,024 | $42,827 |
About Pieridae Energy
Pieridae Energy is a Canadian corporation based in Calgary, Alberta focused on the development of fully integrated energy activities, from upstream production to the sale of LNG. Pieridae Energy’s main project is the Goldboro LNG Project and, following Pieridae Energy’s first acquisition of resources in New Brunswick and the completion of the merger with Pétrolia Inc., Pieridae Energy has embarked on a strategy to consolidate natural gas reserves in key natural gas basins to develop new international markets for Canadian and US natural gas. Pieridae Energy will continue to seek to build a long-term portfolio of natural gas to supply the Goldboro LNG Project. Pieridae Energy is on the leading edge of the re-integration of the LNG value chain in North America. Pieridae Energy has 50,547,159 shares issued and outstanding which trade on the TSX Venture Exchange (PEA).
For further information please contact:
Alfred Sorensen, Chief Executive Officer
Telephone: (418) 657-1966
Mario Racicot, Chief Financial Officer
Telephone: (418) 657-1966