Canacol Energy Ltd. Announces Renewal of Short-Term Loan
Sponsored LinksCALGARY, ALBERTA–(Marketwire – April 24, 2009) – Canacol Energy Ltd. (”Canacol” or the “Corporation”) (TSX VENTURE:CNE) is pleased to announce that it has today renewed a short-term loan (the “Loan”) in the amount of 5,000. The Loan bears interest at a rate of 15% per annum, compounded annually. The Loan will become payable in full on June 4th, 2009 (”Maturity Date”). The Lender will received a bonus of common shares of Canacol equivalent to 10% of the value of the Loan based upon the closing price of such shares on the day immediately preceding the date of renewal the Loan. Further, in the event that Canacol does not repay the loan on the Maturity Date, the Lender will be issued common shares of Canacol equivalent to 16% of the value of the Loan based upon the closing price of such shares on the Maturity Date. As part of the Loan, the Corporation will pay a 5% commission by way of cash and common shares in the Corporation to a firm who is an arm’s-length party to the Corporation.
Related posts:
- Canacol Energy Ltd. announces closing of a $ 41.5 million convertible debenture offering Bought Deal
Canacol Energy Ltd. today announced it has closed its previously announced deal bought short form prospectus offering with a syndicate... - Cheniere Energy to boost board size after inking $250M loan
A unit of Cheniere Energy Inc. has secured a $250 million convertible loan through funds led by GSO Capital Partners... - Canacol Energy Ltd. Provides Update on Operated Development Drilling Program in Colombia
CALGARY, ALBERTA- Canacol Energy Ltd. is pleased to provide an update of its development drilling program in its operated producing...
Comments
Leave a Reply
