TORONTO, Feb. 8, 2024 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce that it has entered into a definitive credit and guarantee agreement (the "Credit Agreement") with  Macquarie Group ("Macquarie") for a financing (the "Financing") of up to US$100 million of which US$50 million is committed funding. The Company and its wholly owned subsidiaries, Bochica Investment Holdings Ltd., Pentanova BVI, Ltd. and MKMS Enerji Anonim Sirketi S.A. (collectively, the "Guarantors"), will guarantee the Financing as guarantors. The Financing is secured by a first priority lien over all the assets of the Company, a trust formed in Colombia and the Guarantors and matures on December 29, 2028. The net proceeds of the Financing and related LC facility for up to US$13.6 million under discussion will be used to: (i) simplify the Company's capital structure; (ii) optimise the Company's balance sheet; (iii) reduce the overall leverage of the Company; (iv) guarantee work commitments under the Company's contracts with midstream partners and with the Agencia Nacional de Hidrocarburos ("ANH") in Colombia; and (v) for general corporate purposes as the Company continues to develop its asset base.