LGX Oil + Gas Inc. Announces $30 Million Bank Facility

CALGARY, Nov. 16, 2015 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV: OIL) has entered into a new banking facility with the Alberta Treasury Branch consisting of a $30 million revolving demand credit facility. The new facility replaces the previous $20 million revolving demand credit facility and a $10 million non-revolving term credit facility.  The new facility is a borrowing base facility subject to annual review by the lender, with the next review scheduled for no later than December 31, 2015. 

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SOURCE LGX Oil + Gas Inc.

Trent J. Yanko, P.Eng., President + CEO; Curt Ziemer, Vice President, Finance + CFO, 4210, 525 - 8th Avenue S.W., Calgary, AB T2P 1G1, Telephone: [phone]