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Lottalead

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Lottalead

Re: Lottalead post# 376109

Tuesday, 10/03/2023 7:36:40 AM

Tuesday, October 03, 2023 7:36:40 AM

Post# of 385621
NHMD .001
(b)
We have received inquiries regarding JP Energy Partner's progress in meeting the banking and financing prerequisites for the sugar transaction, as previously disclosed. To streamline communication, we have opted to address these queries in a single response.





JP Energy has informed us that they have obtained a standby letter of credit from the buyer, but they are now in the process of securing their own standby letter of credit to complete the transaction in its entirety. Additionally, JP Energy has indicated that they have received verbal approval from a bank for their standby letter of credit. However, they anticipate it will take approximately 2-4 weeks to finalize the necessary paperwork and details with that bank.
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