Hemisphere Energy renews $12.5 million credit facility

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Hemisphere Energy renews $12.5 million credit facility

Canada NewsWire

TSX-V: HME

VANCOUVER, May 8, 2017 /CNW/ - Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX-V: HME) is pleased to announce the renewal of its credit facility.  Following the annual review with its lender, the borrowing base under Hemisphere's credit facility was reaffirmed and maintained at $12.5 million. All covenants and applicable margins on borrowing costs remain unchanged. As at May 5, 2017, the Company has drawn approximately $10.2 million on the credit facility. 

For more detailed information on Hemisphere's exciting development opportunities please see our corporate presentation on our website at www.hemisphereenergy.ca.

About Hemisphere Energy Corporation

Hemisphere Energy Corporation is a producing oil and gas company focused on developing conventional oil assets with low risk drilling opportunities. Hemisphere plans continual growth in production, reserves, and cash flow by drilling existing projects and executing strategic acquisitions.  Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Hemisphere Energy Corporation

View original content: http://www.newswire.ca/en/releases/archive/May2017/08/c8646.html

Copyright CNW Group 2017

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