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TOUCHSTONE ANNOUNCES EXPANSION OF CREDIT FACILITY TO US$30 MILLION
TOUCHSTONE ANNOUNCES EXPANSION OF CREDIT FACILITY TO US$30 MILLION Canada NewsW...
About this update from Touchstone Exploration Inc
[{"type":"text","content":"\n \n \n \n TOUCHSTONE ANNOUNCES EXPANSION OF CREDIT FACILITY TO US$30 MILLION\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.prngen2{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: TOP; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prnmr4{\nMARGIN-RIGHT:0.33em\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 22, 2021\n \n /CNW/ - Touchstone Exploration Inc. (\"Touchstone\", \"we\", \"our\", \"us\" or the \"Company\") (TSX: TXP) (LSE: TXP) is pleased to announce that it has entered into an amended and restated loan agreement with its\n \n Trinidad\n \n based lender providing for a\n \n $10 million\n \n increase in the principal balance to\n \n $30 million\n \n (the \"Amended Loan Agreement\").\n \n \n \n \n \n \n \n \n \n Touchstone currently has\n \n $15 million\n \n of the loan principal balance drawn and anticipates withdrawing the remaining\n \n $15 million\n \n available balance prior to the end of 2021. The Amended Loan Agreement provides enhanced financial flexibility at attractive after tax pricing.\n \n \n The Amended Loan Agreement did not alter any material terms of the Company's prior loan agreement, save for an additional underwriting fee of\n \n $50,000\n \n payable to the lender, equivalent to 0.5% of the increased principal amount. The following material terms and conditions of the original loan agreement remain applicable:\n \n \n \n \n \n \n \n \n •\n \n \n \n \n \n \n \n Borrower\n \n \n \n \n \n \n Touchstone Exploration (Trinidad) Ltd.\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n \n \n \n Facility type\n \n \n \n \n \n \n Senior secured syndicated loan, with Republic Bank Limited acting as initial lender, arranger and administrative agent\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n \n \n \n Revised facility amount\n \n \n \n \n \n \n US$30 million\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n \n \n...