Fiddlehead Resources announces amended credit agreement, Ferrier adjusted purchase price reduction and Cynthia acquisition update

CALGARY, AB, June 26, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") (TSXV: FHR), is pleased to announce the amendment and extension of its existing credit agreement with its current lender. The credit agreement has been amended, effective June 24, 2025, to refinance the current outstanding debt of C$12.6 million, previously set to mature November 30, 2025 for a term of eighteen months, with monthly interest payments and no fixed required amortization or principal repayment. In conjunction with the refinancing, Fiddlehead has paid a refinancing fee to its lender totalling C$200,000 from the issuance of one million shares to the lender valued at C$0.20 per share.

Fiddlehead has also reached an agreement with the vendor of the Ferrier/South Strachan Asset, resulting in the elimination of the deferred consideration to the vendor of C$1.25 million and contingent consideration totalling C$2.25 million previously announced, due on December 31, 2025 and January 31, 2026, respectively. The elimination of the deferred and contingent consideration represent a significant reduction in current liabilities for the Company.

On April 10th, 2025 Fiddlehead announced a strategic acquisition of a private central Alberta producer ("PrivateCo") in the Cynthia area of Alberta ("Cynthia Transaction"). Recognizing the material improvements to the Company's financial position as a result of this debt refinancing and elimination of current liabilities, Fiddlehead is now focused on closing the previously announced acquisition of the PrivateCo (See press release dated April 10, 2025). The Company continues to work closely with Research Capital Corp. ("RCC") as its financial advisor to complete the previously announced Cynthia Transaction.

Read the full press release here.