07:12 AM EST, 03/06/2025 (MT Newswires) -- Tidewater Midstream and Infrastructure Ltd. ( TWMIF ) entered Thursday into a definitive agreement with Canadian Resource Roadways LP, for the sale of its Brazeau River Complex roadway network for total proceeds of $24 million.

Of the $24 million in total proceeds, a statement noted, $22.5 million will be received upon closing of the transaction, with the balance to be received on or before December 31, 2025.

The BRC Roadway Network is a non-core asset of Tidewater and the disposition of the BRC Roadway Network is expected to have an immaterial impact to Tidewater's 2025 operating results. The proceeds from the transaction are anticipated to be used to reduce amounts outstanding on the corporation's three-year delayed draw term loan.

The transaction is expected to close in early April 2025 , subject to customary closing conditions and certain regulatory approvals, including the receipt of approval from the Alberta Energy Regulator.

TWM was down $0.01 at $0.21 yesterday on the TSX.