Kiwetinohk Energy Corp. announced that the company's lending facility, including Bank of Montreal as agent and co-leads ATB Financial and National Bank of Canada, recently completed their semi-annual borrowing base redetermination, agreeing to amend the Senior Secured Extendible Revolving Facility and increase Kiwetinohk's borrowing limit by 19% to $375 million from $315 million. Other lenders in the facility include Royal Bank of Canada, Bank of Nova Scotia and Business Development Bank of Canada.

The increased borrowing limit provides: Ample liquidity for current operations, including letters of credit for ongoing marketing activities. Updated liquidity metrics will be provided as part of the Company's second quarter news release, expected in mid-August; Additional funding flexibility, further bolstering the Company's strong operational cash flows, for the 2022 planned capital program; Funding support for potential acquisition /growth opportunities. Kiwetinohk's next semi-annual credit facility borrowing base review is expected in November, 2022.