Reuters logo
BRIEF-ORONOVA ENERGY SAYS PROPOSED $45 MLN FINANCING & AMENDS AGREEMENT TO ACQUIRE PRODUCING GAS & CONDENSATE ASSET IN GUATEMALA
June 20, 2017 / 4:22 PM / 5 months ago

BRIEF-ORONOVA ENERGY SAYS PROPOSED $45 MLN FINANCING & AMENDS AGREEMENT TO ACQUIRE PRODUCING GAS & CONDENSATE ASSET IN GUATEMALA

June 20 (Reuters) - Oronova Energy Inc

* ORONOVA ENERGY ANNOUNCES PROPOSED $45 MILLION FINANCING AND AMENDS AGREEMENT TO ACQUIRE PRODUCING GAS AND CONDENSATE ASSET IN GUATEMALA

* ORONOVA ENERGY INC SAYS A PROPOSED PRIVATE PLACEMENT OF UP TO 112.5 MILLION SUBSCRIPTION RECEIPTS

* ORONOVA ENERGY INC - SIGNED AN AMENDMENT TO DEFINITIVE PURCHASE & SALE AGREEMENT IN RELATION TO ACQUISITION, WITH CITY PETEN S. DE RL

* ORONOVA WILL ALSO PAY CASH CONSIDERATION OF US$5 MILLION AT DEAL CLOSING

* ORONOVA ENERGY INC SAYS NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO COMPLETE ACQUISITION, AND FOR FUTURE DRILLING

* GROSS PROCEEDS OF PRIVATE PLACEMENT TO BE DEPOSITED IN ESCROW AT CLOSING PENDING SATISFACTION OF APPLICABLE ESCROW RELEASE CONDITIONS

* ESCROW RELEASE CONDITIONS INCLUDE CO HAS RECEIVED,AGREED TO EXECUTED TERM SHEET FOR PROVISION OF LOAN FACILITY FOR NOT LESS THAN C$20 MILLION Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below