Primeline Energy Holdings Secures Additional Working Capital Facility

Primeline Energy Holdings Inc. (TSXV:PEH) announced that they have obtained an additional working capital facility from Victor Yiou-Hwa Hwang, its President, Chairman and largest shareholder.

As quoted in the press release:

In order to provide additional working capital through to 31st March 2014, an additional working capital facility has now been agreed. The amount available under this additional facility is US$1,000,000 which is available for drawdown at any time prior to 31st March 2014. The amount drawndown under the new facility is repayable on written demand at any time after 31st July 2015 and is interest free. Primeline is investigating options for generating funds to repay the working capital facilities and expects to make an announcement about repayment in due course.

To view the whole press release, click here.