Divestco Announces Closing of Debt Financing
23 April 2018 - 11:35PM
Further to its press release issued on April 20, 2018, Divestco
Inc. (“
Divestco” or the
“
Company”) (TSX-V:DVT) is pleased to announce
that it has closed a financing arrangement for $3.15 million (the
“
Loan”), the proceeds of which were used to repay
the Company’s existing $3.0 million term loan with BC-OSB Holdings
Ltd. The Loan has a 30-month term and bears interest at a rate of
15% per annum compounded monthly in arrears until
maturity.
Further details in respect of the Loan will be
provided in Divestco's financial statements, its material change
report in respect of the Loan and a copy of the full text of the
agreement setting out the particular terms of the Loan will be
filed under Divestco's profile on SEDAR at www.sedar.com.
About the Company
Divestco is an exploration services company that
provides a comprehensive and integrated portfolio of data,
software, and services to the oil and gas industry. Through
continued commitment to align and bundle products and services to
generate value for customers, Divestco is creating an unparalleled
set of integrated solutions and unique benefits for the
marketplace. Divestco's breadth of data, software and services
offers customers the ability to access and analyze the information
required to make business decisions and to optimize their success
in the upstream oil and gas industry. Divestco is headquartered in
Calgary and trades on the TSX Venture Exchange under the symbol
"DVT". Additional information on Divestco is available on its
website at www.divestco.com and on SEDAR at www.sedar.com.
For more information please contact:
Divestco Inc. (www.divestco.com)
Mr. Stephen
Popadynetz |
Mr. Danny
Chiarastella |
CEO and
President |
Chief Financial
Officer |
Tel
587-952-8152 |
Tel 587-952-8027 |
spopadynetz@divestco.com |
dchiarastella@divestco.com |
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
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