Jura Announces Debt Financing
July 24 2024 - 6:53PM
Jura Energy Corporation ("
Jura" or the
"
Company") today announced that it has entered
into a loan agreement (the “
Loan Agreement”) with
an arm’s-length shareholder of the Company in the amount of up to
US$4,300,000.
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 Pty Limited and Frontier Holdings Limited.
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.
About Jura Energy
Corporation
Jura is an international energy company engaged
in the exploration, development and production of petroleum and
natural gas properties in Pakistan. Jura is based in Calgary,
Alberta, and listed on the TSX-V trading under the symbol JEC. Jura
conducts its business in Pakistan through its subsidiaries,
Frontier Holdings Limited and Spud Energy Pty Limited.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Nadeem Farooq, CEO Tel: +92 51 2270702-5Fax: +92 51 227
0701Website: www.juraenergy.comE‐Mail: info@juraenergy.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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