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Victoria Oil & Gas announces $7.5 million loan financing agreement with Meridian Capital

By BFN News | 09:04 AM | Friday 18 June, 2021


Victoria Oil & Gas, owner of Gaz due Cameroun, a significant domestic energy supplier in Africa, has today announced that it has entered into a definitive financing agreement with Meridian Capital to raise maximum proceeds of $7.5 million. The fundraising will be issued through unsecured loan notes and the proceeds will be used for general working capital purposes. The financing will involve two series of loan notes with a total principle amount of $3.3 million, and an interest of 10% per annum accruing daily from the issue date. In addition, the funds will run on a two-year term with early redemption permitted at no additional cost. Story provided by StockMarketWire.com

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