DAVY VIEW

Following its recent update, Corre Energy has announced that it has secured a convertible debt facility from a group of existing significant shareholders. The terms of the loan reflect the company’s current balance sheet position and the need for immediate funding. It provides an important funding backstop for the business while it progresses discussions to secure strategic and longer-term investment. In return, a new Interim Board of Directors will be introduced and an operational review, focused on a significant reduction in the current operational cost base, will be conducted.