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BRIEF-Petrowest announces restructuring and refinancing update

May 19 Petrowest Corp:

* Petrowest Corporation announces restructuring and refinancing update

* Petrowest Corp - Sami Saad, current president and COO, has been appointed as chief executive officer in replacement of Rick Quigley, effective today

* Company is in negotiations with respect to sale of its R Bee crushing division

* Petrowest-Surplus equipment identified that will be offered for sale at auction or privately, other non-core assets are in various stages of marketing

* Amount of credit available under existing bank facilities has been set at $38 million which is amount currently outstanding Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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