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Ecopetrol holds a 50% interest in the Magdalena Middle Valley's Boranda-1 well, which is operated and 50% controlled by Canadian exploration company Parex.

The Canadian mining company plans to use the bulk of the funds to further exploration efforts at its Santa Rosa gold project in Antioquia.

The credit agreement is expected to provide immediate access to $100 million USD for project development, construction, and working capital.

Canada-based LatAm Startups has a simple message: "If you've got a unicorn? Go to California. But if you're not sure? Come to Toronto."

"I meet with customers every week and it’s amazing. They don’t want to spend time or money — until something happens," said Jorge Hurtado of Absolute Software.

"This company will be disciplined and margin-focused, not simply production-driven," says Pacific Chairman Gabriel de Alba.

Pacific believes the affected common shares will be listed on the Toronto Stock Exchange on November 3

This represents at least the second unexpected delay this month for Pacific Exploration in finalizing its restructuring plan.

The AIG sale of its business in Colombia to Fairax should spell good news for Lloyd's office in the capital.

Pacific Exploration said its arrangement with Catalyst will close on October 12, "assuming satisfaction or waiver of the remaining conditions."