Tidewater Midstream closes Sylvan Lake sale for $5.5M

Mr. Ian Quartly reports TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE SYLVAN LAKE GAS PROCESSING FACILITY TO PARALLAX ENERGY OPERATING INC. Tidewater Midstream and Infrastructure Ltd. has closed the previously announced sale of its Sylvan Lake gas plant and associated gas gathering infrastructure to Parallax Energy Operating Inc. for total proceeds of $5.5-million in cash, subject to customary adjustments. The Sylvan Lake gas processing facility is a non-core asset of Tidewater, and the transaction is expected to have an immaterial impact to Tidewater's 2025 operating results. The proceeds from the transaction will be used to repay amounts outstanding on the corporation's senior credit facility. About Tidewater Midstream and Infrastructure Ltd. Tidewater is traded on the Toronto Stock Exchange under the symbol TWM. Tidewater's business objective is to profitably increase and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product and renewable energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage and various renewable initiatives. To complement its infrastructure asset base, the corporation also markets crude, refined product, natural gas, natural gas liquids, and renewable products and services to customers across North America. Tidewater is a majority shareholder of Tidewater Renewables. We seek Safe Harbor.