TIDEWATER RENEWABLES LTD. ANNOUNCES EXTENSION OF CREDIT FACILITIES

CALGARY, AB, Aug. 15, 2024 /CNW/ - Tidewater Renewables Ltd. ("Tidewater Renewables" or the "Corporation") (TSX: LCFS) is pleased to announce that the Corporation, with the support of its capital providers, have extended the maturity of the $175 million first lien senior credit facility, and the $25 million of additional debt capacity under the second lien term debt facility, from August 18, 2024, to August 30, 2024.

This extension provides the Corporation with the necessary time to complete the proposed transaction with Tidewater Midstream Ltd., which was also announced today.

ABOUT TIDEWATER RENEWABLES

Tidewater Renewables is a multi-faceted energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as tallow, used cooking oil, distillers corn oil, soybean oil, canola oil and other biomasses) into low carbon fuels. Tidewater Renewables' objective is to become one of the leading Canadian renewable fuel producers. Additional information relating to Tidewater Renewables is available on SEDAR+ at www.sedarplus.ca and at www.tidewater-renewables.com.

SOURCE Tidewater Renewables Ltd.

For further information: Jeremy Baines, Chief Executive Officer, Tidewater Renewables Ltd., Email: [email protected]; Ian Quartly, Chief Financial Officer, Tidewater Renewables Ltd., Email: [email protected]