Jura Announces Amendment to the Loan Agreement

This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentCALGARY, Alberta, March 10, 2026 (GLOBE NEWSWIRE) — Jura Energy Corporation (TSXV: JEC) (“Jura” or the “Company”) announced today that it has entered into an amendment (the “Amendment”) to its loan agreement (the “Loan Agreement”) with Takashi Capital Fund S.A. (“Takashi”), as previously described in Jura’s news release dated July 24, 2024.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentPursuant to the Amendment, Takashi assigned all of its rights and obligations as lender under the Loan Agreement to its affiliate, IDL Investments Limited (“IDL”), and the availability under the Loan Agreement was increased from US$4,300,000 to US$6,000,000. As of the date of this news release, approximately US$3,800,000 is drawn under the Loan Agreement. All other provisions of the Loan Agreement remain unamended.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe loan is structured as a non-convertible bilateral loan facility with a three-year term to July 22, 2027, and carries a fixed interest rate of 11% per annum. Pursuant to the Loan Agreement, and as general and continuing security for the payment and performance of the Company’s obligations under the Loan Agreement, the Company granted, assigned, transferred and pledged to the lender a security interest in all of the Company’s right, title and interest in and to 100% of the issued, outstanding and paid-up shares of its wholly-owned operating subsidiaries Spud Energy Pty Limited and Frontier Holdings Limited.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentAs IDL is a control person of Jura holding 55,694,790 common shares of Jura (or approximately 80.62% of the issued and outstanding common shares), the Amendment is a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange (“TSXV”) Policy 5.9. Jura confirms that the Amendment is exempt from the formal valuation requirement pursuant to section 5.5(b) of MI 61-101 as no securities of Jura are listed or quoted on any of the specified markets listed in such section. Further, the Loan Agreement is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(f) of MI 61-101 because the Loan Agreement: (a) is obtained from a related party on reasonable commercial terms that are not less advantageous to Jura than if the credit facility were obtained from a person dealing at arm’s length; and (b) is not convertible into equity or voting securities nor repayable in equity or voting securities. The Amendment was approved by unanimous resolution of the board of directors of Jura, with Mr. Kashif Afzal, Director of IDL, abstaining. To the knowledge of the directors and officers of Jura, after reasonable inquiry, no prior valuation (as defined in MI 61-101) in respect of Jura that relates to the subject matter of or is otherwise relevant to the Amendment has been made in the 24 months before the date of this news release. Jura has provided the requisite notice of the Amendment to the TSXV.Article contentArticle contentAbout Jura Energy Corporation Article contentJura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in Pakistan. Jura is based in Calgary, Alberta, and listed on the TSXV trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited.Article contentFOR FURTHER INFORMATION, PLEASE CONTACT:Article contentStephen Smith, Chairman, Jura Energy CorporationWebsite:www.juraenergy.comE-Mail:info@juraenergy.com Article contentNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Article contentArticle contentArticle contentArticle contentArticle contentArticle contentTrending Chinese oil buyers pay premium for Canadian crude amid Iran war Oil & Gas Here's why bets are rising for interest rate hikes including for Canada Economy Saudi Aramco chief warns of ‘catastrophic consequences’ in biggest crisis region's oil market has faced Oil & Gas Subprime firm Goeasy dives 39% as trouble emerges in auto loans Investor Qatar to push LNG expansion plans to 2027 after Iran drone attack Oil & Gas Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. 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