US based natural resource company Cavu Resources has secured a $10m loan commitment from Kodiak Capital Group, an institutional investor.
Cavu Resources will use the loan to fund additional acquisitions and current contracts in a non dilutive equity offering.
The company will file a listing and registration statement for its 100% owned subsidiary CAVU Energy Services and will distribute ownership in the subsidiary to its shareholders on a pro rata basis of their shares held in CAVU Resources.
CAVU Resources president William Robinson said the listing of its subsidiary CAVU Energy Services will enable growth in the oil and gas waste, environmental cleanup and disposal business.
"The completion of the filing and funding will continue to bring additional value to our shareholders and diversification in CAVU’s future growth," stated Robinson.