RE:RE:It's looking really good now Majid Shafiq, CEO of i3 Energy plc, commented:
"We are very pleased to have re-financed our existing Loan with a traditional reserve-based lending facility provided by a major Canadian chartered bank with a long history of financing the country's oil and gas industry. The non-amortising structure of the facility has an immediate benefit in increasing liquidity, which we can deploy in high return growth initiatives. This is a very positive validation of the strength of our underlying portfolio, and we look forward to building our new financial relationship in a mutually beneficial manner as we expand and grow our Canadian operations.
As the Company's Canadian shareholding has now increased beyond 10%, i3 is no longer a designated foreign issuer and therefore is no longer eligible for TSX continuous disclosure exemptions previously granted through National Instrument 71-102. As such, the Company will commence issuing TSX required quarterly financial reports for Q1 2024, including a Management Discussion and Analysis (MD&A). Additionally, as i3 transitions to this reporting schedule, an Annual Information Form (AIF) will be included as part of the Company's 2023 year-end financial statements which will be issued in mid-April