Africa Oil Announces Positive Prime Financing Update
VANCOUVER, BC, Oct. 29, 2021 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that its investee company, Prime Oil and Gas Cooperatief UA (“Prime”), has successfully signed and closed a pre-export finance facility (“PXF Facility”). Prime’s PXF Facility is for an initial amount of $150 million. The PXF Facility is arranged by Shell Western Supply and Trading Limited and Africa Finance Corporation (“PXF Lenders”) and has a 7-year tenor, extending the duration of Prime’s debt profile on very competitive cost terms that