ERHC Issues Convertible Note

Wednesday, February 25, 2015

ERHC Energy Inc. issued a convertible note for the principal amount of $250,000 to The Chrome Group. The note will bear interest at the rate of 8% and have a 12-month tenure.

The Chrome Group is an international oil and gas conglomerate and a longstanding major shareholder of ERHC. The company will apply the proceeds of the note to the execution of its exploration work programs as well as for general administrative expenses.

In addition to the private placement of convertible notes, ERHC continues to pursue other fundraising sources, including new private-equity investment and farm-outs of its interests in production sharing contracts with the governments of Kenya, Chad and Sao Tome & Principe respectively.

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