RRL updates on $20m convertible note financing

Range Resources confirms that all the conditions for the $20m convertible note financing have been met.

This followed shareholder approval at an AGM on Feb. 7.

The issue of the convertible note was to replace a portion of the outstanding payable balance due to LandOcean Energy Services Co Ltd under the terms of the Integrated Master Services Agreement.

At the date of entering into the Convertible Note Agreement (Oct. 31, 2016), the outstanding payable balance due to LandOcean was $35.9m.