Cordy Oilfield announced that it entered into an amended and restated loan and security agreement with Nations Equipment Finance.

The amended and restated facility is an amendment and restatement of the original loan and security agreement with the lender effective June 9, 2014.

All amounts outstanding under the original loan agreement were consolidated under a single loan, the new outstanding amount being $2,356,981.58. No new funds were advanced to Cordy under the amended and restated facility. Pursuant to the terms of the amended and restated facility, the new amount is payable in 60 consecutive monthly installments of principal and interest in the amount of $52,500, commencing June 22, 2015, subject to earlier repayment. The new amount bears interest at a rate of 12% per annum and its repayment is secured against certain collateral provided in respect of the original loan agreement.