July 6, 2016 / 1:04 AM / a year ago

BRIEF-Tesla Exploration provides update on Matco Guarantee and credit facility negotiations

July 5 (Reuters) - Tesla Exploration Ltd

* Provides update to the Matco Guarantee and credit facility negotiations

* Its Canadian lender has called remaining undrawn portion of $2.5 million Matco guarantee in amount of $976,730

* $2.5 million indebtedness bears interest at 10% per annum

* Says company and its lenders continue to explore alternatives

* Total amount owing to Matco Investments Ltd is now $2.5 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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