Gale Force Issues Short-Term Loan
DALLAS, March 7, 2014 /CNW/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company") today announced that, to finance additional investments in core properties, the Company has issued a $275,000 short-term loan to Primatlantis Capital, L.P. (the "Short-term Loan"). The Short-term Loan has a term of three to six months, has an interest rate of 1.50% per month, and is secured by a first-rank security interest on the 50% of the Company's Thunder Property and the Company's interests in the Marcellus Properties.
ABOUT GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped oil and gas reserves in mature basins, bringing operational expertise and capital to lower-risk, development-type projects. The Company currently owns producing oil and gas properties in Texas, Tennessee and West Virginia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For more information, please contact: Michael P. McLellan, CFA, Chief Executive Officer at +1.888.440.3411.