Hyperion Exploration Corp. (TSXV: HYX.V) revised its banking facilities to a CA$40 million aggregate borrowing limit after selling Chip Lake assets Jan. 31, the company said Feb. 7.
The new aggregate borrowing limit is divided between a CA$30 million operating facility and a CA$10 million acquisition facility, the company added.
Proceeds from selling the assets brought Hyperion’s bank debt down to about CA$27 million.
Hyperion is a junior, light oil and gas company operating in Alberta’s Niton/McLeod, Garrington, North Pembina and Buck Lake areas. It is based in Calgary. ...