Xcite Energy Limited Secures GBP 20 Million Equity Line

Xcite Energy (TSXV: XEL) announced that it has entered into a Standby Equity Distribution Agreement with YA Global Master SPV Ltd, an investment fund managed by Yorkville Advisors LLC, for a £20 million equity line of credit.

The press release is quoted as saying:

All shares issued by Xcite will be at a price based on existing market conditions at the time of each drawdown within the private placement pricing parameters of the TSX Venture Exchange.

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