Valparaiso Energy Inc. - Private Placement
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES./
CALGARY, April 10, 2014 /CNW/ - Valparaiso Energy Inc. (the "Corporation") (NEX: VPO.H) is pleased to announce that the Corporation has entered into settlement agreements whereby certain debt holders have agreed to settle their outstanding principal amount totaling $325,000 into 6,500,000 common shares of the Corporation reflecting a price of $0.05 per share. In addition, all outstanding accrued interest on the above outstanding debt in the approximate amount of $324,167 has been waived.
After the above settlement, the Corporation will have 36,321,569 shares outstanding. These shares trade on the NEX board of the TSX Venture Exchange under the symbol VPO.H.
The Corporation paid a fee of 400,000 common shares to arm's length persons for assisting in the completion of the above settlement.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Valparaiso Energy Inc., with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Specifically, certain of the transactions referenced herein are subject to regulatory approval, and there can be no guarantee that such approvals will be received, in a timely manner or at all. Actual results and events may vary.
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.
SOURCE Valparaiso Energy Inc.For further information: William J. Wylie, President and Chief Executive Officer, T: 403.266.5515 (Ext. 4), E: Bill@raptap.com