SDX To Sign Facility Agreement with EBRD

Thursday, July 19, 2018

SDX Energy, through its subsidiary SDX Energy Morocco, intends to sign a Facility Agreement with the European Bank for Reconstruction and Development (EBRD) for the provision of a three-year, $10 million Reserves Based Lending Credit Facility with an ‘Accordion’ feature taking total potential availability of up to $20 million.

The Facility will be available for use in Morocco and will provide SDX with an additional liquidity source and the ability to optimize its cost of capital for the funding of customer connection infrastructure and future drilling and field development costs.

The Facility will be available for drawing in the coming weeks after satisfaction of the normal conditions precedent.

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