Granite Oil Corp. Announces Credit Facility Amendment

CALGARY, Alberta, Dec. 22, 2017 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to announce that the semi-annual review of its credit facility has been completed.  The Company voluntarily reduced the availability under the credit facility from $60 million to $50 million, consisting of a $45 million revolving demand credit facility and a $5 million revolving demand operating facility.  The Company has sufficient liquidity and financial flexibility to execute its business plan.