Jura Announces Closing of Running Finance Facility

Source: www.gulfoilandgas.com 11/11/2020, Location: Asia

Jura Energy Corporation (“Jura”) is pleased to announce that its wholly-owned subsidiary, Spud Energy Pty Limited (“SEPL”), has entered into another short-term running finance facility (the “Facility”) of Pakistan Rupees (“PKR”) 200 million (approximately US$1.26 million using the State Bank of Pakistan November 10, 2020 exchange rate of US$1 = PKR158.6936). The proceeds of the Facility will be utilized to finance the operating expenses of SEPL.

The Facility has been extended by JS Bank Limited, a related party of Jura, and carries interest at the rate of 1-month Karachi Inter Bank Offered Rate (7.39% using the State Bank of Pakistan posted rate on November 10, 2020) plus 2.25%, maturing six months from the date of disbursement. The interest is payable quarterly in arrears.


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