Brief: Gen Iii Oil Has Received Non-Binding, Non-Exclusive, Indicative Term Sheet From Private Debt Group

ReGen III

19/07/2019 13:36

July 19 (Reuters) - Gen III Oil Corp  GIII.V :
    * GEN III OIL CORP. – CORPORATE UPDATE
    * GEN III OIL CORP- HAS RECEIVED NON-BINDING, NON-EXCLUSIVE,
INDICATIVE TERM SHEET FROM PRIVATE DEBT GROUP FOR UP TO 83% OF
TOTAL PROJECT FINANCING
    * GEN III OIL - BASED ON BOWDEN PLANT RUNNING FOR 330
DAYS/ANNUM
CO ANTICIPATES GENERATING APPROXIMATELY $170 MILLION IN GROSS
REVENUES IN FIRST FULL YEAR
    * GEN III OIL CORP - STRUCTURE ALSO CONTEMPLATES A 5% LOAN
BONUS
WARRANT
    * GEN III OIL CORP - OTHER INSTITUTIONAL PARTIES ARE ALSO
UNDERTAKING DUE DILIGENCE WITH A VIEW TO MAKING PROPOSALS TO
FINANCE BOWDEN PROJECT

Source text for Eikon:  ID:nGNX9vkyBm 
Further company coverage:  GIII.V 

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