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Gear Energy Ltd. Confirms Monthly Dividend for June of $0.01 per Share and Announces Credit Facility Increase

By: Newsfile

Calgary, Alberta--(Newsfile Corp. - June 1, 2023) - Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) (OTCQX: GENGF) confirms that the June 2023 monthly dividend of $0.01 per common share is to be paid on June 30, 2023, to shareholders of record on June 15, 2023.

The dividend is designated as an "eligible dividend" for Canadian income tax purposes.

Gear is also pleased to announce the successful completion of its borrowing base review, resulting in an increase in the syndicated credit facility from $42 million to $50 million. In addition, the term out and maturity dates have been extended to May 31, 2024 and May 31, 2025, respectively.


Ingram Gillmore
President & CEO

David Hwang
Vice President Finance & CFO


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