BRIEF-Tesla provides update to credit facility negotiations
July 11 (Reuters) - Tesla Exploration Ltd
* Provides update to credit facility negotiations
* Continues to negotiate with its UK and Canadian lenders to reach an agreement to allow company to continue to function as a going concern.
* Says "failure to reach an agreement would have a material adverse effect on company"
* Says it has received notification that current agreement has been extended to July 12, 2016
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