AIMCo supplies $45 mln in debt financing to Ikkuma Resources

Alberta Investment Management Corp (AIMCo) has entered into a financing partnership with Ikkuma Resources Corp (TSE: IKM), a Calgary junior oil and gas company. AIMCo agreed to provide a debt-with-warrants financing that includes a $45 million second-lien senior secured term loan. The deal entitles AIMCo to acquire up to 6.75 million of the company's common shares for $0.86 per unit. In a separate release, Ikkuma said it will use the proceeds to pay down outstanding indebtedness, strengthen liquidity, and help fund development of its Cardium oil play.

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