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Journey Energy Inc. has concluded its annual bank line review.
As previously disclosed in our May 9, 2016 press release the Company’s $140 million credit facility was undergoing its annual review. This review is now complete and based on the banking syndicates’ final determination, the credit facility has now been set at $110 million.
The $110 million facility is comprised of a $15 million working capital facility and a $95 million revolving facility. The new facility will subject to a standard semi-annual review, which is currently projected to be completed in October of this year.
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