Dejour Expands Bridge Loan Facility to C$4MM
11 May 2015 - 11:15PM
Business Wire
Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the
“Company”), an independent oil and gas exploration and production
company operating in North America’s Piceance Basin and Peace River
Arch regions, today announced that it has expanded its previously
reported industry-standard bridge loan commitment announced March
12, 2015 for C$2MM to up to C$4MM from a principal and director of
the Company. These funds will provide a flexible source of capital
to support the current 2015 initiatives of the Company. The
independent members of the Board of Directors approved the amended
loan agreement and the principal and director appropriately
abstained from voting in the loan transaction. Pricing is
consistent with the prior advance. The term of the loan facility
has been extended to end on September 30, 2015.
“We are very pleased with the successful progression of our core
projects. This expanded facility is intended to support the
achievement of our production objectives for 2015. With strong
revenue growth anticipated from the completion of the eight wells
recently drilled at the Company’s Kokopelli project in NW Colorado
including a strategic new Mancos/ Niobrara indicated discovery,
Dejour will be well positioned, both strategically and financially,
to further delineate its extensive inventory of drillable PUD’s and
begin to move on other key exploitation leases that show excellent
longer term potential,” stated Robert L. Hodgkinson, Chairman &
CEO.
About Dejour
Dejour Energy Inc. is an independent oil and natural gas
exploration and production company operating projects in North
America’s Piceance Basin (43,500 net acres) and Peace River Arch
regions (16,000 net acres). Dejour maintains offices in Denver,
USA, Calgary and Vancouver, Canada. The company is publicly traded
on the New York Stock Exchange Amex (NYSE MKT: DEJ) and Toronto
Stock Exchange (DEJ.TO).
Statements Regarding Forward-Looking Information: This
news release contains statements about oil and gas production and
operating activities that may constitute "forward-looking
statements" or “forward-looking information” within the meaning of
applicable securities legislation as they involve the implied
assessment that the resources described can be profitably produced
in the future, based on certain estimates and assumptions.
Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks,
uncertainties and other factors that could cause actual results to
differ materially from those anticipated by Dejour and described in
the forward-looking statements. These risks, uncertainties and
other factors include, but are not limited to, adverse general
economic conditions, operating hazards, drilling risks, inherent
uncertainties in interpreting engineering and geologic data,
competition, reduced availability of drilling and other well
services, fluctuations in oil and gas prices and prices for
drilling and other well services, government regulation and foreign
political risks, fluctuations in the exchange rate between Canadian
and US dollars and other currencies, as well as other risks
commonly associated with the exploration and development of oil and
gas properties. Additional information on these and other factors,
which could affect Dejour’s operations or financial results, are
included in Dejour’s reports on file with Canadian and United
States securities regulatory authorities. Other risks include the
Company’s ongoing review by NYSE MKT (“the Exchange”) to ensure the
Company continues to regain compliance with Section 100 3(a)(iv) of
the Company Guide which addresses a Company’s ability to operate as
a going concern. We assume no obligation to update forward-looking
statements should circumstances or management's estimates or
opinions change unless otherwise required under securities law.
The TSX does not accept responsibility for the adequacy or
accuracy of this news release.
Follow Dejour Energy’s latest developments on: Facebook
http://facebook.com/dejourenergy and Twitter @dejourenergy
Dejour Energy Inc.Robert L. Hodgkinson,
604-638-5050Chairman & CEOinvestor@dejour.comorCraig Allison,
914-882-0960Investor Relations – New Yorkcallison@dejour.com
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