BRIEF-Tesla provides an update on its credit facilities
May 6 (Reuters) - Tesla Exploration Ltd :
* Tesla Exploration provides an update on its credit facilities
* Received verbal notification from UK lender that its GBP 1.8 million overdraft facility will not be extended past june 30, 2016
* Says "company anticipates that occurrence of borrowing base shortfalls may continue for foreseeable future"
* For Q1 co anticipates being in violation of minimum lender adjusted ebitda covenant and has requested a waiver from its lender
* Says company has drawn on its operating loan facility in excess of its borrowing base limit by approximately $1.1 million
Source text for Eikon:
Further company coverage: (Bengaluru Newsroom)
© Thomson Reuters 2016 All rights reserved.