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

  • Jun 18, 2021
  • Stock Market Wire

StockMarketWire.com - 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.

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