/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES./
CALGARY, Sept. 18, 2014 /CNW/ - Valparaiso Energy Inc. (the "Corporation") (NEX: VPO.H) announces that the Corporation has, effective July 15, 2014, reclassified the outstanding share subscriptions in the amount of $25,000 into convertible debt.
On September 18, 2014 the Corporation has entered into an agreement, subject to regulatory approval, whereby the above convertible debt holder has agreed to settle the outstanding principal amount totaling $25,000 into 500,000 common shares of the Corporation reflecting a price of $0.05 per share.
After the above settlement the Corporation will have 47,221,569 shares outstanding. These shares trade on the NEX board of the TSX Venture Exchange under the symbol VPO.H.
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