NewTimeSpace News:On March 10, 2026, Canacol Energy Ltd. announced the completion of the first subsequent advance under its Debtor-in-Possession (DIP) financing, after all precedent conditions specified in the DIP Financing Commitment Letter were met.

It is reported that Canacol Energy Ltd. previously entered into a DIP financing agreement and signed a commitment letter with a group of relevant noteholders. The relevant arrangement obtained approvals from the Canadian and U.S. courts successively in December 2025, with the U.S. court's recognition being associated with the company's cross-border bankruptcy proceedings.

The announcement specified that Canacol Energy Ltd. completed the initial advance under the financing in January 2026, and is currently working with KPMG, the court-appointed monitor, as well as the DIP lenders to push forward the preparatory work for additional subsequent advances.

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