September 22, 2017 Via Email to lallen@providence-energy.com Providence Energy Partners III, LP Attn: Luke Allen, VP of Business Development 16400 North Dallas Parkway, Suite 400 Dallas, TX 75248 Re: Consent to Incur Additional Indebtedness Dear Luke:PetroShare Corp. • November 14th, 2017 • Crude petroleum & natural gas
Reference is made to that certain Revolving Line of Credit Facility Agreement dated October 13, 2016 (“Supplemental Line of Credit Agreement”), as same may be amended from time to time, by and between PetroShare Corp. (“Company”) and Providence Energy Partners III, LP (“PEP III”), the Promissory Note between Company and PEP III of even date and related thereto, as same may be amended from time to time (the “PEP III Note”); and any Deed of Trust, Mortgage, Assignment of Production, Security Agreement and Financing Statement from Company to PEP III of even date related thereto, as same may be amended from time to time (“Mortgage”; and, collectively with the Supplemental Line of Credit Agreement and the PEP III Note, the “PEP III Credit Documents”).
IMPORTANT: PLEASE READ CAREFULLY BEFORE SIGNING. SIGNIFICANT REPRESENTATIONS ARE CALLED FOR HEREIN. SUBSCRIPTION AGREEMENT and LETTER OF INVESTMENT INTENTSubscription Agreement • November 14th, 2017 • PetroShare Corp. • Crude petroleum & natural gas • Colorado
The undersigned (“Subscriber”) wishes to subscribe for Series B Unsecured Convertible Promissory Notes (the “Series B Notes”) of PetroShare Corp. (the “Company”). The Subscriber understands that once this Subscription Agreement is completed, it should be returned to GVC Capital LLC as the Placement Agent at 5350 S. Roslyn Street, Suite 400, Greenwood Village, CO 80111, together with a check or wire transfer for the amount of the subscription.
PLACEMENT AGENT AGREEMENT September 11, 2017Placement Agent Agreement • November 14th, 2017 • PetroShare Corp. • Crude petroleum & natural gas • Colorado
The Company proposes to offer and sell to a limited number of accredited investors up to $6,000,000 of Series B Unsecured Convertible Promissory Notes (the “Offering”). The Series B Notes bear interest at 15% per year and mature on December 31, 2018 (the “Series B Notes”). The Series B Notes can be converted at any time into shares of the Company’s common stock, initially at a conversion price of $1.50 per share.
September 22, 2017 Via Email to dbissmeyer@providence-energy.com Providence Energy Operators, LLC Attn: David Bissmeyer, Chief Operating Officer 16400 North Dallas Parkway, Suite 400 Dallas, TX 75248 Re:Consent to Incur Additional Indebtedness Dear David:PetroShare Corp. • November 14th, 2017 • Crude petroleum & natural gas
Reference is made to that certain Revolving Line of Credit Facility Agreement dated May 15, 2015 (“Original Line of Credit Agreement”), as same may be amended from time to time, by and between PetroShare Corp. (“Company”) and Providence Energy Operators, LLC (“PEO”); the Promissory Note between Company and PEO of even date and related thereto, as same may be amended from time to time (the “PEO Note”); and any Deed of Trust, Mortgage, Assignment of Production, Security Agreement and Financing Statement from Company to PEO of even date related thereto, as same may be amended from time to time (“Mortgage”; and, collectively with the Original Line of Credit Agreement and the PEO Note, the “PEO Credit Documents”).
