The independent oil and gas exploration and production company said Global Power Sources SrL, a company which agreed terms to the major investment in May via a subscription for new shares at a price of
Global Power Sources told Ascent that the transfer could not be completed as
A condition of the subscription was that up to
As a result of the subscription not being completed, the conversion and redemption of its 2013 and 2014 convertible loan notes has not yet taken place.
Ascent said it is in discussions with
However, it added that it is also now in discussions with alternative providers of funding, including current stakeholders, in the event that the funds are not received in a reasonable timeframe.
Most Popular Stories
- Neighbor Warns Chris Brown to Stay Off His Property
- Venezuelan Officials Banned From Traveling in U.S.
- Homeowners More Satisfied With Mortgage Servicers
- WWE Showing Off Its Muscles
- As Jobs Market Strengthens, Many Don't Feel It
- Ford Tremor: Easy to Park, Hard to Pay For
- Adrienne Bailon Disses Ex-Lover Rob Kardashian
- Target Taps Pepsi Exec as New CEO
- Hispanic Arts Leaders Unite Across the Border
- Islamic State Fights for Control of Syrian Oil Wealth