The Senior Secured Term Loan
The
'We are extremely fortunate to be involved with FIBT and its experienced management team. Their understanding of our business model and their first-hand knowledge of the petroleum business means a great deal to HNRA. Their acknowledgement of our business plan and models will help us create the foundation for building a growing oil and gas business', said Diego 'Dean' Rojas, an Independent Director of the Company with substantial industry experience.
'We take pride in our relationship-based business model and the way we build long-term trust with companies like HNRA. They are a company we expect to have a long and rewarding relationship with. We remain well capitalized and positioned to serve our customers and communities for generations to come', said
About
FIBT is headquartered in
FIBT is supporting HNRA with their Reserves Based Lending program giving the Company the ability to use future production as collateral to fund today's needs. FIBT supports companies in the industry through the different phases within the lifetime of an oil and gas project including exploration, development, production, plateau, decline, and decommissioning, all of which require flexibility in terms of funding.
About
HNRA is a blank check company (otherwise known as a special purpose acquisition company or SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release includes 'forward-looking statements' that involve risks and uncertainties that could cause actual results to differ materially from what is expected, including the funding of the Trust Account to further extend the period for the Company to consummate an initial business combination, if needed. Words such as 'expects,' 'believes,' 'anticipates,' 'intends,' 'estimates,' 'seeks,' 'may,' 'might,' 'plan,' 'possible,' 'should' and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR and with the
Contact:
Email: mike@plrinvest.com
(C) 2023 Electronic News Publishing, source