Zedcor Energy Inc. Announces Extension and Amendment of the ATB Financial Credit Facility

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[{"type":"text","content":"Zedcor Energy Inc. Announces Extension and Amendment of the ATB Financial Credit FacilityCalgary, Alberta--(Newsfile Corp. - September 27, 2019) - Zedcor Energy Inc. (TSXV: ZDC) (the \"Company\" or \"Zedcor\") is pleased to announce that effective September 26, 2019, it has amended and restated the $13.5 million credit facility with ATB Financial to reflect the following changes; The maturity date of the $2.5 million non-revolving term loan facility has been extended to March 15, 2021. The $8 million equipment finance loan which was used to finance 75% of the purchase of new rental assets was capped at $4.8 million as the additional funds from this facility were no longer required. The debt service coverage ratio for the quarter ending March 31, 2020 and June 30, 2020 was reduced from 1.25:1.00 to 1.05:1.00 and 1.10:1.00, respectively. Lastly, the security interest over the shares pledged under the shareholder guarantee was revised from a fair market value requirement of at least $3.125 million to a trade value of at least $0.60 per share.Forward-Looking Statements and InformationCertain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information may contain statements with the words \"anticipate\", \"believe\", \"expect\", \"plan\", \"intend\", \"estimate\", \"propose\", \"budget\", \"should\", \"project\", \"or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, Zedcor's plans to continue to market and sell under-utilized assets and to use the proceeds to pay down debt. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will diff...

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