Fieldpoint Petroleum (FPP) Announces Sixth Amendment to Loan Agreement, Forbearance Agreement
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
FieldPoint Petroleum Corporation (NYSE: FPP) today announced a Sixth Amendment to Loan Agreement with Citibank, which includes a forbearance agreement. The terms and conditions of the forbearance agreement may be seen in a Form 8-K filed today with the Securities and Exchange Commission.
Phillip Roberson, President and CFO of FieldPoint, stated, "This is a very important first step to stabilize the Company and afford us the ability to aggressively look for opportunities to grow during our recovery from the depressed oil and gas market of the past many months. Citibank has been a great banking partner to work with during this difficult time. Extending the due date of our current loan from this month to January 1, 2018, as well as granting a forbearance, shows support for, and confidence in, the plan that FieldPoint has initiated in order to maintain our listing with the NYSE. The events of today also allow us to move forward with the previously announced transaction between FieldPoint and HFT, which we now expect to complete promptly. This transaction is an important next step in our recovery plan. The oil and gas industry as a whole is having to deal with many of the same issues facing FieldPoint. We are very fortunate to have partners like Citibank and HFT supporting us in this effort."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NYSE to Suspend Trading in MGT Capital Investments (MGT); Will Move to Delist
- Verisign Inc. (VRSN) Reports Amendments to Agreements with DOC, ICANN
- Twilio (TWLO) Prices 7M Share Follow-on Offering for Proceeds of ~$280M
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!