Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/independence-to-access-1000000-drawdown-financing-.shtmlIndependence to access $1,000,000 drawdown financing facility
Independence Energy Corp. has elected to access an initial portion of the $1,000,000 Drawdown Financing facility currently offered to the Company.
Independence Energy Corp. has elected to access an initial portion of the $1,000,000 Drawdown Financing facility currently offered to the Company. Under terms of the Financing agreement, the Company and the funding provider have executed documents to facilitate a $200,000 drawdown against the $1,000,000 balance.
Proceeds from this drawdown are intended to be used for new project acquisition, exploration and development, general working capital, or such other purposes as the Company may determine from time to time.