InPlay Oil Corp. Announces Renewal of Credit Facility
Canada NewsWire
CALGARY, AB, June 13, 2023
CALGARY, AB, June 13, 2023 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to announce the completion of the annual renewal of its syndicated Senior Credit Facility.
InPlay's Senior Credit Facility has been renewed at $110 million comprised of a $95 million revolving facility and a $15 million operating line of credit (together, the "Senior Credit Facility"). The borrowing base of the Senior Credit Facility has been reconfirmed at $110 million and the term out date extended out to June 30, 2024 with a maturity date of June 30, 2025.
This renewed lending facility provides InPlay a position of stable financial liquidity allowing us to execute our capital program, continue our strategy of returning capital to shareholders and providing a competitive advantage to capitalize on potential strategic acquisitions opportunities.
SOURCE InPlay Oil Corp.
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Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634