AFRICA OIL ANNOUNCES POSITIVE AMENDMENTS TO ITS CORPORATE FACILITY
January 31, 2022 (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce a number of positive amendments to its Corporate Facility. All lenders have approved increasing the available amount to $100 million from the current unutilised amount of $62 million, and extending the availability period to December 31, 2022, from May 13, 2022. The Corporate Facility maturity date of May 13, 2024, and interest margins are unchanged. The lenders have also waived certain conditions in support of the Company’s plans to implement a shareholder