Gear Energy Ltd. Announces Extension of Borrowing Base Redetermination to December 18, 2020
November 30 2020 - 3:39PM
PR Newswire (Canada)
CALGARY, AB, Nov. 30, 2020 /CNW/ - Gear Energy Ltd.
("Gear") (TSX: GXE) announces an extension to the scheduled
date for its semi-annual borrowing base redetermination from
November 30, 2020 to December 18, 2020.
Gear's syndicated credit facilities currently consist of
available credit facilities of $70
million with the semi-annual redetermination due on or
before November 30, 2020. Gear and
its banking syndicate have agreed to extend the date for completion
of the semi-annual borrowing base redetermination to December 18, 2020 to allow for additional time to
finalize negotiations and to obtain required approvals.
SOURCE Gear Energy Ltd.
Copyright 2020 Canada NewsWire
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