Candax Energy Inc. has obtained from Geofinance NV, major debtholder and shareholder of the Company, a further extension of 5 days on the waiver with respect to terms of the facility agreement entered into by the parties.

The extension will extend the waiver until September 8, 2015. As a result, Geofinance NV has agreed not to seek any remedy under the facility agreement in respect of the $3.5 million unpaid amount until September 8, 2015, except in case of specific circumstances.

Tags: Candax Energy Inc.