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Share Price: 0.035

Bid: 0.03

Ask: 0.04

Change: -0.0025 (-6.67%)

Spread: 0.01 (33.333%)

Open: 0.0375

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IN BRIEF: TomCo Energy obtains USD750,000 unsecured facility

Thu, 01st Sep 2022 20:37

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Obtains unsecured facility of USD750,000 through a convertible loan note instrument and associated subscription and put option agreement, entered with broker Novum Securities Ltd.

Proceeds from the initial tranche will go towards repaying a principal amount of USD250,000 of the USD1.5 million loan from Valkor Oil & Gas LLC.

Facility will also be used on bridge TomCo's financing requirements amid plans to negotiate for a large debt funding package.

"This convertible loan provides the company with bridge financing whilst we seek to further progress and finalise negotiations with a potential financing partner for a larger debt funding package that, if secured, would enable the company to execute on its development plans for Greenfield and the TSHII site," says Chief Executive Officer John Potter.

Current stock price: 0.46 pence, down 17% on Thursday

12-month change: down 7.1%

By Dayo Laniyan; dayolaniyan@alliancenews.com

More News

6 Apr 2023 14:28

IN BRIEF: TomCo Energy shares resume as posts narrowed annual loss

TomCo Energy PLC - oil development group operating in US - Shares start trading again on AIM and posts results for financial year ended September 30. Pretax loss in financial 2022 is GBP690,000, narrowed from GBP10.3 million a year prior. Posts no revenue, unchanged. Reports no impairment loss compared to GBP8.7 million in financial 2021. Looking ahead, Chair Malcolm Groat says: "The company acknowledges and greatly appreciates the ongoing support and patience of our shareholders as we seek to progress the Greenfield development project as well as exploit TomCo's other significant potential despite the current global economic headwinds." Greenfield Energy LLC was the company's focus in financial 2022, and Greenfield's plans to pursue the construction of two oil sand separation plants in Utah, US.

3 Apr 2023 15:03

TRADING UPDATES: Tracsis profit jumps; Elixirr 2022 earnings improve

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

30 Mar 2023 20:31

TRADING UPDATE: Aquis Exchange profit jumps, TomCo obtains funding

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday not separately reported by Alliance News:

6 Mar 2023 11:48

TomCo agrees option exercise period extension for Tar Sands purchase

(Alliance News) - TomCo Energy PLC on Monday said it agreed to extend its 100%-owned subsidiary Greenfield Energy LLC's purchase option exercise period to acquire Tar Sands Holdings II LLC until March 31.

2 Mar 2023 19:57

TRADING UPDATES: Downing Renewables acquires two hydropower plants

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

30 Dec 2022 15:11

TomCo extends option exercise period for acquisition of Tar Sands

(Alliance News) - TomCo Energy PLC on Friday said it has extended its option exercise period relating to the potential acquisition of the remaining interest in Tar Sands Holdings II LLC.

2 Dec 2022 20:39

TRADING UPDATES: Sunrise secures funds; Bango launches e-distribution

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

4 Nov 2022 20:58

TRADING UPDATES: DeepVerge raises GBP815,000; Rambler defaults payment

(Alliance News) - The following is a round-up of updates by London-listed companies, not separately reported by Alliance News:

1 Nov 2022 16:44

TomCo agrees another extension to its loan from Valkor

(Sharecast News) - Oil developer TomCo announced a further extension to its unsecured loan from Valkor Oil on Tuesday, with the remaining outstanding principal totalling $1m.

24 Oct 2022 21:18

TRADING UPDATES: Silverwood finishes acquisition; Hardide names chair

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

18 Oct 2022 17:07

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

14 Oct 2022 13:43

CORRECT: TomCo Energy shares down after loan repayment and extension

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Repays USD250,000 of its unsecured loan from Valkor Oil & Gas LLC to its wholly-owned subsidiary Greenfield Energy LLC. Also extends repayment date for remaining USD1.0 million of the loan to October 31. The loan was used for the acquisition of an initial 10% of the membership interest in Tar Sands Holdings II LLC.

14 Oct 2022 13:41

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Tomco Energy Share News (TOM)

Share Price Information for Tomco Energy (TOM)

IN BRIEF: TomCo Energy obtains USD750,000 unsecured facility

IN BRIEF: TomCo Energy shares resume as posts narrowed annual loss

TRADING UPDATES: Tracsis profit jumps; Elixirr 2022 earnings improve

TRADING UPDATE: Aquis Exchange profit jumps, TomCo obtains funding

TomCo agrees option exercise period extension for Tar Sands purchase

TRADING UPDATES: Downing Renewables acquires two hydropower plants

TomCo extends option exercise period for acquisition of Tar Sands

TRADING UPDATES: Sunrise secures funds; Bango launches e-distribution

TRADING UPDATES: DeepVerge raises GBP815,000; Rambler defaults payment

TomCo agrees another extension to its loan from Valkor

TRADING UPDATES: Silverwood finishes acquisition; Hardide names chair

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

CORRECT: TomCo Energy shares down after loan repayment and extension

IN BRIEF: TomCo Energy shares up on loan repayment and extension

TomCo partially repays, extends Valkor loan further

CORRECT: Coral Products buys Ecodeck; Evgen Pharma recruits

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Tomco Energy Share News (TOM)

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IN BRIEF: TomCo Energy obtains USD750,000 unsecured facility

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