Dejour Expands Bridge Loan Facility to C$4MMDejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced that it has expanded its previously reported industry-standard bridge loan commitment announced March 12, 2015 for C$2MM to up to C$4MM from a principal and director of the Company. These funds will provide a flexible source of capital to support the current 2015 initiatives of the Company.
The independent members of the Board of Directors approved the amended loan agreement and the principal and director appropriately abstained from voting in the loan transaction. Pricing is consistent with the prior advance. The term of the loan facility has been extended to end on September 30, 2015.
“We are very pleased with the successful progression of our core projects. This expanded facility is intended to support the achievement of our production objectives for 2015. With strong revenue growth anticipated from the completion of the eight wells recently drilled at the Company’s Kokopelli project in NW Colorado including a strategic new Mancos/ Niobrara indicated discovery, Dejour will be well positioned, both strategically and financially, to further delineate its extensive inventory of drillable PUD’s and begin to move on other key exploitation leases that show excellent longer term potential,” stated Robert L. Hodgkinson, Chairman & CEO.