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Anglo African Oil & Gas enters into convertible loan facility

Anglo African Oil & Gas has entered into an unsecured convertible loan facility with Riverfort Global Opportunities for an amount of up to £1,500,000.

The key terms of the Facility are as follows:

  • First drawdown of £160,000 to be advanced to the Company today;
  • Further drawdowns of £100,000 per month to be mutually agreed between the Company and the Lenders up to the Commitment Amount;
  • Commitment fee of £7,500 added to the principal outstanding and convertible on the same terms;
  • Each Drawdown is interest free but attracts a 7% drawdown fee to be added to the principal amount outstanding and convertible on the same terms;

click on the link below for further information.

Source: EnergyPedia

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