Sound Energy Secures £1.5M Bridge Financing Deal

Sound Energy (GB:SOU) has released an update.

Sound Energy has struck a deal for a bridge financing facility of up to £1.5 million with 2i Partners, facilitated by Lyndisfarne Partners Ltd. This facility, available for three months starting September 1, 2024, will support the company with additional working capital if needed before finalizing the sale of Sound Energy Morocco East to Managem SA. The agreement includes a 15% interest rate per quarter and a £50,000 fee to the lender if no funds are drawn, along with a guarantee secured by shares of its subsidiary, Arran Energy Holdings Limited.

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