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CALGARY, ALBERTA--(Marketwired - June 4, 2014) - GASFRAC Energy Services Inc. (TSX:GFS) (the "Corporation") is pleased to announce that it has entered into a commitment letter with a Canada Branch of a U.S. Federally Chartered Bank providing for up to $60,000,000 of senior secured financing (the "Facility"). The Facility is anticipated to be a five year revolving credit facility of up to $60,000,000, subject to a borrowing base. Initially $35,000,000 will be available under the Facility, with availability subject to increase based on future performance of the Corporation. Closing of the Facility is subject to satisfactory completion of certain conditions, including due diligence and the execution of definitive loan and security agreements. |
