CF Energy signs working capital loan agreements with banks

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TORONTO, June 30, 2021 (GLOBAL INFO) – CF Energy Corp. (TSX-V: CFY) (“CF Energy” or “Company” together with its subsidiaries, “The Group”), a leading new energy service provider in the People’s Republic of China (“PRC” or “China”) is pleased to announce the Group’s acquisition of new banking services worth 40 million yuan.

RMB 30 million working capital revolving loan
One of the Company’s 100% subsidiaries signed a three (3) year revolving Working Capital Loan (“ICBC Loan”) totaling RMB 30 million (CAD 5.7 million) with the Industrial and Commercial Bank of China (ICBC) , Sanya Branch, Hainan Province, PRC. The ICBC loan is intended to finance the purchase of the Group’s natural gas and bears an initial interest rate of 3.95% per annum. The ICBC loan interest rate will be adjusted every six months in accordance with changes in the base rate of interest (LPR) in the PRC, if applicable. The ICBC loan is guaranteed by another wholly owned subsidiary of the Group and is repayable in equal installments of RMB 5 million with an initial maturity in November 2021 and every six months thereafter until the loan expires.

Working capital loan of RMB 10 million.
Another wholly owned subsidiary of the Company signed with China Everbright Bank (CEB), Sanya, a one (1) year working capital loan agreement (“CEB Loan”) totaling RMB 10 million (1.9 million Canadian dollars) Branch, Hainan Province, PRC. The CEB loan, which bears interest at a fixed rate of 4.5% per annum, is guaranteed by another wholly owned subsidiary of the Group and a personal guarantee by Ann Lin (Chairman and CEO of the company) and is due at the end of the term of office. credit.

About CF Energy Corp. (formerly known as: Changfeng Energy Inc.)
CF Energy Corp. is a Canadian public company currently listed on the Toronto Venture Exchange (“TSX-V”) under the “CFY” stock symbol. It is an integrated energy supplier and natural gas distribution company (or natural gas utility) in the PRC. CF Energy is committed to combining cutting edge clean energy technologies using natural gas to provide sustainable energy to its customers in the PRC. In 2009, CF Energy was recognized as one of the ten most influential brands in China in the gas industry, and in 2019 was ranked among the leaders of the 2019 TSX Venture 50 by the TSXV 2018.

CONTACTS

Corporate investment relations
Investor.relations@changfengenergy.cn
Charles Wang
Executive Assistant to CEO and Chairman of the Management Board
zhaoyu.wang@changfengenergy.cn

Frederick Wong
Director of the Board
fred.wong@changfengenergy.cn

Mike Liu
Vice President for Capital Markets
mike.liu@changfengenergy.cn

Forward-looking statements

Certain statements in this press release are forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements other than statements of historical fact incorporated or incorporated by reference in this document are forward-looking statements, including statements regarding activities, events or events that the Company expects or expects to occur in the future. These forward-looking statements can be identified using forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “expect”, “believe”, “continue”, other similar words and / or their negation. No assurance is given that the plans, intentions or expectations or assumptions on which these forward-looking statements are based will prove to be correct, and the forward-looking statements included in this press release should not be relied on unduly. While management believes that the expectations set forth in such forward-looking statements are reasonable, there is no guarantee that such expectations will be realized. Such outwardly appealing statements do not constitute a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to materially deviate from the expected results, performance or achievements or developments expressed by or implied. such forward-looking statements. These factors include, but are not limited to, significant and continuing adverse changes in general economic or financial market conditions. Readers are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties that are detailed in the Corporation’s filings with the relevant Canadian securities regulators, copies of which are available at www.sedar.com. The company encourages readers to carefully consider these factors. The forward-looking statements included in this press release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, for except as expressly required by applicable securities laws. This press release is neither an offer to sell nor a request for proposals to buy any of the securities described in this document. Accordingly, one should not overly rely on its content.

Neither TSX Venture Exchange nor its Regulatory Service Provider (as defined in the TSX Venture Exchange policy) are responsible for the adequacy or accuracy of this release.

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