Gran Tierra Energy Inc. Announces New US$75 Million Credit Facility – Gran Tierra Energy
Summary
CALGARY, Alberta, April 16, 2025 (GLOBE NEWSWIRE) Gran Tierra Energy Inc. (Gran Tierra or the Company) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has, through its wholly owned subsidiary, Gran Tierra Energy Colombia GmbH, a Swiss limited liability company, entered into a reserve-based lending facility with commitments of up to US$75 million as of the date hereof (the closing date). Securing this facility during a period of market volatility is a testament to the quality of our assets, the consistency of our cash flow generation, and the confidence our partners have in Gran Tierras strategy. This facility supports our continued commitment to strengthening our balance sheet, enhancing operational flexibility, and delivering long-term value to all stakeholders.Highlights of the new facility include: Interest payable on the facility is based on a Term Secured Overnight Financing Rate plus a margin of 4.50% per annum Final maturity date of 36 months from the closing date All outstanding principal, interest, and other payment obligations are due on the maturity date with option to prepay without prepayment penalty The loan is secured by, among other things, the economic rights over certain contracts together with Gran Tierras Colombian commercial establishmentFor investor and media inquiries please contact:Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. There are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from the forward-looking statements, including, but not limited to, the impact and benefits of the new credit facility and the crude oil sales contracts; the nature of the Companys relationship with Trafigura; the Companys cash flows and liquidity; and those factors set out in Part I, Item 1A, Risk Factors in the Companys Annual Report on Form 10-K for the year ended December 31, 2024, and in the Companys other filings with the SEC. The information included herein is given as of the date of this press release and, except as otherwise required by the securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to, or to withdraw, any forward-looking statement contained in this press release to reflect any change in the Companys expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.