Brief: Gen III Oil Signs Term Sheet For CAD$72 Million Secured Credit Facility

ReGen III

20/02/2018 19:10

Feb 20 (Reuters) - Gen III Oil Corp  GIII.V : 
    * GEN III OIL CORP. SIGNS TERM SHEET FOR CAD$72 MILLION 
SECURED 
CREDIT FACILITY 
    * GEN III OIL CORP - SIGNED 60-DAY EXCLUSIVE TERM SHEET FOR 
CAD$72 MILLION SENIOR SECURED TERM LOAN CREDIT FACILITY FOR UNIT 
    * GEN III OIL CORP -  PROCEEDS TO BE USED TO FUND DESIGN 
AND 
CONSTRUCTION OF A RE-REFINERY OF USED MOTOR OIL IN ALBERTA BY 
UNIT 
    * GEN III OIL CORP -  PROCEEDS TO ALSO BE USED TO FUND 
PRE-COMMERCIAL OPERATIONS WORKING CAPITAL, FUND AN INTEREST AND 
CONTINGENCY RESERVE FOR FACILITY 
    * GEN III OIL CORP -  AGREES TO GRANT LENDER WARRANTS TO 
ACQUIRE 
UP TO 4 PERCENT OF COMMON EQUITY OF UNIT 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nGNX4LTkXs 
Further company coverage:  GIII.V  
 
 ((Bangalore.newsroom@thomsonreuters.com;))