FEC Resources Receives Extension on Loan Repayment and Converts Loans to Forum Energy Limited to Maintain 6.8 Percent Interest #Energy #FECOF #Investing #OTC #OTCMarkets #OTCStocks

Vancouver, British Columbia--(Newsfile Corp. - December 22, 2023) -  FEC RESOURCES INC. (OTC Pink: FECOF) ("FEC" or the "Company") announces that PXP Energy Corporation ("PXP") has extended the due date of loans to FEC to February 29, 2024, while all other terms remain the same. These loans from PXP carry interest at Libor plus 3.5%, with both interest and principal originally repayable on the earlier of: a) December 31, 2023, b) any equity issuance by FEC, c) any sale of FEL shares by FEC, or...


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