GXE Gear Energy Ltd

0.67

-0.01 (-1.47%)

14 Jun 2024 - Closed

Delayed by 15 minutes

Share Name	Share Symbol	Market	Type
Gear Energy Ltd	TSX:GXE	Toronto	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.01	-1.47%	0.67	0.66	0.68	0.67	0.66	0.67	529,858	21:00:01

Gear Energy Ltd. Announces Extension of Borrowing Base Redetermination

28/05/2020 1:19am

PR Newswire (Canada)

Gear Energy (TSX:GXE)
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From Jun 2019 to Jun 2024

CALGARY, AB, May 27, 2020 /CNW/ - Gear Energy Ltd. ("Gear") (TSX: GXE) announces an extension to the scheduled date for its semi-annual borrowing base redetermination.

Gear Energy Ltd. Announces Extension of Borrowing Base Redetermination (CNW Group/Gear Energy Ltd.)

As at March 31, 2020, Gear's syndicated credit facilities consisted of available credit facilities of $90 million with the next semi-annual redetermination due on or before May 28, 2020. In light of ongoing economic volatility, Gear and its banking syndicate have agreed to extend the date for completion of the semi-annual borrowing base redetermination from May 28, 2020 to June 30, 2020. For the period of the extension, Gear has agreed that borrowings under the credit facilities will not exceed $75 million. As of today, Gear is drawn approximately $68.1 million (inclusive of letters of credit).

SOURCE Gear Energy Ltd.