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VOLTAIC STRATEGIC RESOURCES LTD — Capital/Financing Update 2019
Sep 1, 2019
66024_rns_2019-09-01_6d498a51-f09f-4e02-a43d-6cb6e0653921.pdf
Capital/Financing Update
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ABN 66 138 145 114
20 Howard Street Perth WA 6000
PO Box Z5207 St George’s Terrace Perth WA 6831
www.EonNRG.com
Tel: 08 6144 0590 Fax: 08 6144 0593
ASX Code: E2E
ASX Media Release
2 September 2019
12 Month Extension of Bank Loan
Eon NRG Limited (“Eon” or the “Company”) is pleased to announce that it has received approval from ANB Bank to renew its revolving line of credit (RLOC) loan facility for a further twelve months with a new expiry date of 1 October 2020. The loan facility limit is $6.4M with the current outstanding loan balance of $6.1 million. The financial covenants of the facility remain unchanged. The cost of capital remains low on this facility with interest charged at a rate of 0.50% above the US Prime Rate.
John Whisler, Managing Director said " We are very pleased to continue our banking partnership with ANB which has provided the Company with funding support for more than five years. The RLOC continues to be a very effective low-cost financing option which gives the Company flexibility to implement its growth plan .”
About the Company:
Eon NRG Ltd is a U.S. onshore focused energy exploration and production company. The Company's growth path is through the drilling of high impact oil exploration wells, supported by a 100% owned and operated long life oil and gas production assets and associated cashflow. The company has a mixture of onshore USA exploration and development acreage along with production assets located in Wyoming and California.
All reference to dollars or $ refers to USD unless otherwise stated.
For further information, contact:
Simon Adams CFO/Company Secretary Perth +61 (0)8 6144 0590 Email: [email protected]
John Whisler Managing Director Denver Head Office +1 (720) 763-3183
Email: [email protected]
CRP02 36 Extension of ANB Loan Sep0219