Labrador Technologies Inc Announces Proposed Oil and Gas Property Acquisition, Private Placements and Credit Facility finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
PetroFrontier Corp. Announces Closing of Credit Facility
PetroFrontier or the
Corporation ) (
TSXV:PFC) is pleased to announce that it has closed its previously announced credit facility (the
Credit Facility ) in the amount of $2,000,000 (see the Corporation s press release dated March 2, 2021).
Kasten Energy Inc. and Paul Cheung are insiders of the Corporation and provided $1.5 million and $500,000 of the Credit Facility, respectively. The Credit Facility was unanimously approved by the board of directors of PetroFrontier, excluding a director that abstained from voting due to a conflict of interest.
About PetroFrontier
PetroFrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.
PetroFrontier Corp. Announces Credit Facility
PetroFrontier or the
Corporation ) (
TSXV:PFC) is pleased to announce that it has secured a credit facility enabling it to meet its drilling commitments.
Credit Facility
The commitment letter provided to the Corporation provides for advances in the amount of up to CDN $2,000,000 (the
Credit Facility ) from a syndicate of lenders including Kasten Energy Inc. (
Kasten ) and Paul Cheung (collectively, the
Lenders ). Kasten and Paul Cheung are insiders of PetroFrontier as they each own more than 10% of the outstanding common shares of the Corporation (the
Common Shares ). The closing of the Credit Facility is subject to the approval of the TSX Venture Exchange Inc. (the