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Griffiths Energy International Inc. Arranges Private Equity Financing and Credit Facility and Provides Progress Update
Griffiths Energy International Inc. (“Griffiths Energy” or the “Company”) is pleased to announce it has arranged a $125 million private placement equity financing (the “Private Placement”) on a best-efforts basis through a syndicate of investment dealers. Griffiths Energy has also executed a term sheet in respect of a $75 million credit facility (the “Credit Facility”) with a syndicate of lenders. Griffiths Energy is also pleased to provide an update on its oil exploration, development and production activities in the Republic of Chad.