05:27 PM EDT, 04/03/2024 (MT Newswires) -- Vital Energy (VUX.V) on Wednesday said its existing $10 million credit facility has been assigned from the existing lender, a company controlled by Hai Zhou, a director and control person of the corporation, to an arm's length third party lender.

The terms of the Credit Facility remain unchanged, such that the Credit Facility matures on Dec. 4, 2024, and funds advanced bear interest at a rate of 12% per annum, payable on the maturity date.

Vital Energy is a publicly traded junior oil and gas company whose primary focus is light and medium crude oil production in Western Canada.