XXL Energy unit enters amended loan with Jonah Bank

Executive Summary

• XXL Energy Corp.’s wholly‑owned subsidiary, Exxel Energy (USA) Inc., amended its business loan agreement with Jonah Bank of Wyoming, raising the maximum credit facility from $2.3 M to $4 M.
• The amendment also increased the variable interest rate and extended the maturity date to September 26, 2027.
• The loan is now secured by Standard Energy (guarantor), and Exxel USA presently has a $1 M outstanding balance on the facility.

Key Details

• Amended Credit Amount: Increased from US$2.3 million to US$4 million.
• Interest Rate: Variable rate calculation changed, resulting in a higher effective interest rate (specific rate not disclosed).
• Maturity Extension: New maturity date set for September 26, 2027 (previously September 26, 2025).
• Guarantor: Standard Energy, wholly owned by director/officer John R. Hislop, serves as guarantor for the loan.
• Current Outstanding Balance: US$1 million owed on the amended facility.
• Other Terms: All other terms and conditions of the original agreement remain unchanged.

Notable Quotes

(No executive quotes were provided in the release.)