Civeo To Sell Its McClelland Lake Lodge Assets To US-Based Mining Project For Approximately $36M
Portfolio Pulse from Benzinga Newsdesk
Civeo Corporation is set to sell its McClelland Lake Lodge assets to a US-based mining project for approximately $36M. The transaction is expected to close before January 31, 2024, subject to customary closing conditions.
September 12, 2023 | 10:32 am
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Civeo Corporation's sale of its McClelland Lake Lodge assets could potentially increase its liquidity and reduce its debt, which may have a positive impact on its stock price.
The sale of assets is a common strategy for companies to increase their liquidity and reduce their debt. This could potentially make the company more attractive to investors, leading to an increase in the stock price. However, the impact will also depend on how the market perceives the sale and the future prospects of the company.
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