PR Newswire
NEWARK, N.J., April 5, 2017
NEWARK, N.J., April 5, 2017 /PRNewswire/ -- Genie Energy Ltd.,
(NYSE: GNE, GNEPRA) a leading independent retail energy provider and oil and gas exploration company, announced that its Genie
Retail Energy division has secured a $20.0 million revolving loan facility with Vantage Commodities
Financial Services, LLC. The new facility, which has a term of three years, will be available for general corporate purposes
including working capital.
"The new credit agreement improves Genie Energy's capital structure and enhances our ability to leverage our strong balance
sheet to execute on our growth strategies including organic meter acquisition and additional, strategic acquisitions following
the successful purchase of Town Square Energy last year," said Avi Goldin, Genie Energy's Chief
Financial Officer.
About Genie Energy Ltd.:
Genie Energy Ltd. (NYSE: GNE, GNEPRA) is comprised of two operating divisions, Genie Retail Energy (GRE) and Genie Oil
and Gas (GOGAS). GRE operates retail energy providers and brokerage and marketing services. GRE's retail energy
providers market electricity and natural gas to residential and small business customers in deregulated markets in the United
States. GOGAS is a global oil and gas exploration company operating an exploratory program in Northern Israel. For
more information, visit www.genie.com.
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SOURCE Genie Energy Ltd.