CALGARY, Alberta, July 24, 2024 (GLOBE NEWSWIRE) — 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 2270702-5
Fax: +92 51 227 0701
Website: www.juraenergy.com
E‐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.
