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| Home : PetroShare Corp. Announces Additional Financing, Provides Operations Update |
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Jan 04
2018 |
PetroShare Corp. Announces Additional Financing, Provides Operations Update |
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ENGLEWOOD, CO--(Marketwired - January 03, 2018) - PetroShare Corp. (OTCQB: PRHR), ("PetroShare" or the "Company"), a Colorado-based oil and gas exploration and production company with operations in the Wattenberg Field of the Denver-Julesburg Basin, announced receipt of $5 million in debt financing and the execution of an agreement in principle to obtain an additional $20 million in the form of a Senior Secured Credit Facility with Providence Energy Ltd. and Fifth Partners, LLC and/or related entities (collectively the "Lender"). Providence is an affiliate (through a common management and/or control chain) of the Company's existing lender and beneficial owner of approximately 12% of its common stock, as well as its working interest partner. The additional $20 million is subject to negotiation and execution of definitive agreements and completion of satisfactory diligence by the Lender. Closing of the second tranche of the financing is anticipated on or before January 28, 2018. |
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| Source:http://www.marketwired.com/mw/release.do?id=2244023&sourceType=3 |
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