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Gale Force Petroleum Upsizes Loan

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March 31, 2014

Gale Force Petroleum Inc. (TSXV: GFP.V) increased the size of its short-term loan facility to US$600,000, the company said March 28, noting that it received the second of two disbursements pursuant to the March 7 loan.

The short-term loan will mature August 7, carries a monthly interest rate of 1.50% and is secured by a first-rank security interest in the company’s U.S. Marcellus and Thunder properties, Gale Force Petroleum said.

"The proceeds of the short-term loan will be used by the company to pay for key investments in core properties, ...


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