ENP Newswire -
Release date- 22072014 -
The CDs bear interest at a rate of 12.85% calculated and compounded annually and payable quarterly. The CDs are convertible into common shares of the Company at a conversion price of
Due to the interest expressed in the CDs, the size of the offering was increased from
The net proceeds of the CDs are expected to be used for the repayment of the outstanding amount under the Company's
Chief Financial Officer
Tel: (416) 275-4070
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the proposed use of net proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Such factors include, among others, the effects of general economic conditions, timely receipt of regulatory approvals, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures.
Energold does not assume the obligation to update any forward-looking statement unless required by law.
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