Mr.
Yingchuan Wu reports
VITAL ENERGY ANNOUNCES NEW LENDER UNDER EXISTING CREDIT FACILITY
Further to Vital Energy Inc.'s Dec. 5, 2023, news release, the company's existing $10-million credit facility has been assigned from the existing lender, a company controlled by Hai Zhou (a director and control person of the corporation), to an arm's-length third party lender. The terms of the credit facility remain unchanged, such that the credit facility matures on Dec. 4, 2024, and funds advanced bear interest at a rate of 12 per cent per annum, payable on the maturity date.
Vital Energy is a publicly traded junior oil and gas company, the primary focus of which is light and medium crude oil production in Western Canada.
We seek Safe Harbor.
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