Jaguar8 commented on a stock · Nov 22, 2024 20:33

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Empire Petroleum Increases Revolver Loan Facility with Equity Bank to $20 Million in Support of Strategic Growth Initiatives

Empire Petroleum has amended its Revolver Loan Agreement with Equity Bank, doubling the total principal commitment from $10 million to $20 million through December 29, 2026. The company currently has approximately $8.4 million borrowed on the facility, which is secured by assets from Empire North Dakota and Empire ND Acquisition subsidiaries. This increase follows the company's successful completion of an oversubscribed $10 million rights offering earlier this year and will provide additional financial resources for North Dakota development initiatives.

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Jaguar8

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