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GXE Gear Energy Ltd

0.48
0.00 (0.00%)
14 Feb 2025 - 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
  0.00 0.00% 0.48 0.475 0.485 0 00:00:00

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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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.

Copyright 2020 Canada NewsWire

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