CALGARY, ALBERTA -- (Marketwired) -- 05/24/13 -- RED ROCK ENERGY Inc. (TSX VENTURE: RRK) ("Red Rock" or "the Company") announced today that the Company has received a demand notice in relation to the loan of $750,000 received from 1262430 Alberta Ltd. ("1262430") on June 13, 2011. Pursuant to the terms of the agreement entered into by the parties, interest on the loan was to accrue at a rate of 12% per annum and was initially to have a term of one year. By mutual consent that term was extended by 18 months, however management of 1262430 has since determined to grant no further extensions and has demanded full repayment of monies due. The loan was secured by a first charge against Red Rock's Saskatchewan mineral properties. Management of Red Rock is exploring alternative strategies to settle this demand for payment.
For further information regarding Red Rock Energy Inc., please refer to the Company's filings available on SEDAR (Http://www.sedar.com).
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.
Red Rock Energy Inc.
Most Popular Stories
- Cape Cod Building Mussel Industry
- Hollywood Eager to Grasp Hispanic Market
- Frightfully Fun Films Return for Halloween
- Sears Denies Store Closings, Layoffs Report
- Microsoft Beats Income Expectations
- Would Soccer Be Richer Without Small Clubs?
- Cloud Lifts Microsoft's Quarterly Results
- Pfizer Approves $11 Billion Buyback Plan
- IS Funded by Black Market Oil Sales, Racketeering
- Weekly Jobless Claims Rise but Remain Low