Metgasco Ltd (AU:MEL) has released an update.
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Metgasco Ltd has increased its debt facility with Glennon Small Companies by $300,000, bringing the total to $3.18 million, to support Odin field costs and working capital. The loan features a capitalized interest rate of 20% and offers repayment flexibility by aligning with earned revenue. This expansion aims to address short-term funding needs without resorting to dilutive capital raising.
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