COPL Repays Riverfort Loan in Cash

Source: www.gulfoilandgas.com 2/8/2021, Location: Europe

Canadian Overseas Petroleum Limited ("COPL"), an international oil and gas exploration and development company, is pleased to announce that it has repaid in cash the balance of the loan from Riverfort Global Opportunities PCC ("RGO") and YA II PN, Ltd ("YA") (RGO and, together with YA, the "Lenders") announced on June 15, 2020. The remaing balance of £ 400,000 was repaid in cash on February 5, 2020 without penalty. As such, the Company has met all of the terms and conditions of the Lenders under the loan agreement.

Arthur Millholland, President and CEO, commented:
"We would like to thank Riverfort and Yorkville for providing the loan in June of last year which was strategic to the restructuring of the Company. It has allowed us to proceed to where we are today nearing the completion of the Atomic acquisition."


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