Manitok Energy Inc. is currently in the final stages of negotiating the Credit Facility with the Lenders which is to be completed concurrently with the closing of the Acquisition. The proposed Credit Facility will increase the resulting issuer's pro forma borrowing capacity by way of a new multi-tranche first lien secured term loan credit facility of $132.2 million, which includes a $117.2 million term loan (Term Loan) bearing a consolidated coupon rate of 11.3% with warrants to purchase 10% of the fully-diluted Manitok Shares following the completion of the Acquisition with an exercise price equal to Manitok's volume weighted average price for the 30 calendar days prior to the closing of the Credit Facility. The Term Loan is subject to standard covenants, tests and conditions for first lien term loans of this nature. The Credit Facility also includes a $15.0 million delayed draw term loan previously referred to herein as the 'Acquisition Facility' with draw down conditions that are customary to facilities of this nature. Upon completion, the resulting issuer will extinguish the existing reserves based bank credit facilities and infrastructure-backed debt of both Manitok and Questfire, and will have an average cost of debt capital of 11.1% versus the current 9.7% and will have $20.0 million of additional liquidity at close.