Jura Energy has entered into a loan agreement with an arm’s-length shareholder of the company in the amount of up to $4.3 million.
The loan is structured as a bilateral loan facility with a three-year term to July 22, 2027. The loan carries a fixed interest rate of 11% per annum. Pursuant to the loan agreement, and as general and continuing security for the payment and performance of the company’s obligations under the loan agreement, the company has agreed to grant, assign, transfer and pledge to the lender a security interest in all of the company’s right, title and interest in and to 100% of the issued, outstanding and paid-up shares of its wholly-owned operating subsidiaries Spud Energy and Frontier Holdings.
The proceeds of the loan agreement will be used for general working capital. Jura has provided the requisite notice to the TSX Venture Exchange (TSX-V) pursuant to TSXV Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions.
