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PetroSun Announces US$24 Million Recapitalisation

PetroSun has completed recapitalisation of the Company involving the execution of a US$15 million stock purchase agreement with a strategic investor and a debt conversion agreement, which was executed with certain strategic investors that immediately equitises approximately 85% of the Company's long-term debt. PetroSun also executed an agreement with various strategic investors and lenders that equitised ~US$9.1 million of other existing debt and accrued interest.

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