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Yorkville Advisors Completes AUD $10 Million Equity Facility with European Gas Limited - Yorkville Advisors has entered into a AUD $10 million Equity Line of Credit Agreement with European Gas Limited [ASX: EPG] - YorkvilleAdvisors.com / EuropeanGas.com.au
Yorkville Advisors Completes AUD $10 Million Equity Facility with European Gas Limited

 

NewswireToday - /newswire/ - London, United Kingdom, 2009/08/17 - Yorkville Advisors has entered into a AUD $10 million Equity Line of Credit Agreement with European Gas Limited [ASX: EPG] - YorkvilleAdvisors.com / EuropeanGas.com.au.

   
 
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Yorkville Advisors, LLC (“Yorkville”), the investment manager to a family of funds, is pleased to announce that it has entered into a AUD $10 million Equity Line of Credit Agreement with an Australian Securities Exchange listed company, European Gas Limited, a hydrocarbon producer, developer and explorer of projects located in Europe.

European Gas entered into the Equity Line of Credit as a means of raising additional working capital.

Pioneered 8 years ago by Yorkville, an Equity Line of Credit offers companies a low risk, cost effective way of optimising their capital structure in pursuit of their growth strategy. The terms of the Equity Line of Credit enable European Gas, at its discretion, to draw down funds of up to AUD $10 million in tranches in exchange for the issue of new equity, at a discount to the prevailing market price at each drawdown, for up to 60 months from the signing of the agreement.

Anthony McClure, Managing Director of European Gas said: “This financing facility will aid in the next stage of development of our substantial hydrocarbon portfolio in Europe and we look forward to a very successful relationship with Yorkville Advisors.”

Philip Ho, Senior Managing Director of Yorkville Advisors said: “We are excited by the compelling story of European Gas and about its plans over the next couple of years as it advances the development and production at Gazonor and Lorraine coal mine and coal bed methane projects.”

About Yorkville Advisors
Yorkville Advisors, LLC (“Yorkville”), is the investment manager to a family of funds with approximately USD $900 million in assets under management.

Founded in January 2001, Yorkville (yorkvilleadvisors.com) specialises in providing flexible, innovative debt and equity investments and financing in publicly listed companies worldwide in a variety of sectors including energy, mining, technology media & telecommunication (TMT), healthcare and shipping. Yorkville has a broad investment mandate and the flexibility to invest across many geographies as well as sectors.

Yorkville tailors its financings according to each company’s need and offers a mix of debt structures, bridge financings, asset backed loans, equity facilities and, in some cases, equity injections.

Yorkville has offices in Jersey City, New Jersey; Jupiter, Florida; London and Hong Kong. It also has a joint venture agreement in Italy.

About European Gas Limited

European Gas (europeangas.com.au) is a hydrocarbon producer/developer/explorer with projects in western Europe. The strategy of the company is to develop coal bed methane and coal mine methane projects, particularly, in France where the company has major holdings under licence. The permit and application portfolio covers over 10,000 square kilometres in France, Italy and Belgium and contains the largest unconventional gas resources ever assembled in continental western Europe.

 
 
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Written by / Agency / Source: Trimedia

 
 

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Yorkville Advisors Completes AUD $10 Million Equity Facility with European Gas Limited

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Publisher Contact: Josephine Salm - TrimediaUK.com 
+44(0)20 7978 7773 josephine.salm[.]trimediauk.com
 
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