PetroMaroc Raises Capital to Make Missed Interest Payment

NEW YORK ( TheDeal) -- PetroMaroc is working to recapitalize its balance sheet and has secured an unsecured promissory note that will allow it to fund a missed interest payment on its secured debentures.

The Calgary, Alberta-based independent oil and gas company, focused on exploration and development in Morocco, announced that it has secured a 10% unsecured promissory note due April 30, 2016, from "an arms' length investor."

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