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Kolibri Global Energy Inc. - Credit Facility Maturity Extension
Kolibri Global Energy Inc. - Credit Facility Maturity Extension PR Newswire ...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n \n \n \n Kolibri Global Energy Inc. - Credit Facility Maturity Extension\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n NEWBURY PARK, Calif.\n \n ,\n \n Sept. 30, 2021\n \n /PRNewswire/ - Kolibri Global Energy Inc. (the \"\n \n Company\n \n \" or \"\n \n KEI\n \n \") (TSX: KEI), announces that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. (\"BNK US\") has received an extension of the maturity date on its credit facility with BOK Financial (\"BOKF\") from\n \n June 2022\n \n to June 2023. BOKF granted the extension following the completion of the most recent borrowing base redetermination.\n \n \n The Company is also pleased to announce that BNK US will make principal reduction payments totalling\n \n US$1.55 million\n \n , to reduce the outstanding principal to\n \n US$16.0 million\n \n , by\n \n April 1\n \n \n st\n \n , 2022.  These principal reduction payments are projected to be funded from cash on hand and adjusted funds flow from operations and will further reduce the interest expense.\n \n \n \n Wolf Regener\n \n , President and CEO commented. \"We are very pleased to get the extension of the maturity date and that our property continues to perform well. Once we make the additional principal payments that end in\n \n April 2022\n \n , we will have paid down almost 50% of the credit facility from its peak of\n \n US$30 million\n \n .\"\n \n \n \n About Kolibri Global Energy Inc.\n \n \n \n \n Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy.  Through various subsidiaries, the Company owns and operates energy properties in\n \n the United States\n \n . The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.\n \n \n \n \n Caution Regarding Forward-Looking Information\n \n \n \n \n Certain...