Jura Announces Amendment to the Loan Agreement
CALGARY, Alberta, July 28, 2026 (GLOBE NEWSWIRE) — Jura Energy Corporation (“Jura” or the “Company”) announced today that it has entered into a second amendment (the “Amendment”) to its loan agreement (the “Loan Agreement”) with IDL Investments Limited (“IDL”), as previously desc
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, July 28, 2026 (GLOBE NEWSWIRE) — Jura Energy Corporation (“Jura” or the “Company”) announced today that it has entered into a second amendment (the “Amendment”) to its loan agreement (the “Loan Agreement”) with IDL Investments Limited (“IDL”), as previously described in Jura’s news release dated March 10, 2026.
Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentPursuant to the Amendment, the availability under the Loan Agreement was increased from US$6,000,000 to US$10,000,000. As of the date of this news release, approximately US$5,900,000 is drawn under the Loan Agreement. All other provisions of the Loan Agreement remain unamended.
The increase in the Loan Agreement is aimed at ensuring that Jura and its subsidiaries have sufficient funding to pursue their ongoing legal actions against Petroleum Exploration (Pvt.) Limited (“PEL”) as detailed in previous press releases.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.
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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 contentForward Looking AdvisoryArticle contentThis press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws. The words “will”, “continue”, “expects”, “may”, “anticipates”, “intends”, and similar expressions are used to identify forward-looking information. Specific forward-looking statements in this press release include information regarding expectations regarding the sufficiency o
