Africa Oil Announces the Receipt of Prime Dividend, the Upsizing and Completion of its Corporate Loan Refinance
VANCOUVER, BC, Aug. 2, 2021 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received a dividend from Prime Oil and Gas Cooperatief UA (“Prime”) and that is has completed the refinancing of its corporate loan facility. Prime has distributed a $75 million dividend with a net payment to Africa Oil of $37.5 million related to its 50% shareholding. The Company applied $25 million from this dividend to reduce the outstanding balance of the BTG term loan (“Term Loan”) to $98 million, and has subsequently repaid