Vintage Energy Ltd (ASX: VEN, “Vintage”) announces completion of the $10 million debt facility (“Facility”) with the PURE Resources Fund (“PURE”) announced 25 November 2021. Funds available under the Facility’s two $5 million tranches have been drawn down.
The Facility will supplement cash receipts from prepayments arising from the Vali Gas Sales Agreement with AGL to fund capital expenditure to bring the Vali gas field into production. As advised 25 May 2022, first gas is expected from Vali in late September- October 2022.
The key terms of the Facility were announced on 25 November 2021, and include:
The PURE Resources Fund is a specialist provider of hybrid capital to Australian emerging resources companies managed by PURE Asset Management (“PURE”).
Vintage is advised by BurnVoir Corporate Finance, who were integral in securing the Facility with PURE.
This release has been authorised on behalf of the Vintage Board by Mr. Neil Gibbins, Managing Director.