Canadian Superior Energy Inc. Announces Closing of Restructuring of Series A Preferred Stock
04 Febbraio 2010 - 2:39PM
Marketwired
Canadian Superior Energy Inc. ("Canadian Superior" or the
"Company") (TSX: SNG)(NYSE Amex: SNG) is pleased to announce that
the terms and conditions of the First Preferred Shares, Series A,
as previously announced on December 29, 2009, of the Company in the
aggregate principal amount of USD$15,000,000 owned by West Coast
Opportunity Fund, LLC ("West Coast"), was completed on February 3,
2010. Pursuant to the terms of the restructuring, the First
Preferred Shares, Series A shares held by West Coast were exchanged
on a share for share basis for First Preferred Shares, Series B
shares pursuant to which the Redemption Date was extended from
December 31, 2010 to December 31, 2011 and the conversion price was
reduced from USD $2.50 to USD $0.60. West Coast was also granted
2,500,000 common share purchase warrants exercisable at a price of
USD $0.65 for each common share and expiring December 31, 2011. The
Company can force conversion of the First Preferred Shares, Series
B at anytime in the future if its common shares close at a price of
at least a 100% premium to the conversion price on a major US
exchange for 20 out of any 30 consecutive trading days while the
common shares underlying the First Preferred Shares, Series B are
registered.
Canadian Superior Energy Inc. is a Calgary, Alberta, Canada
based diversified global energy company engaged in the exploration
and production of oil and natural gas and in the development of a
liquefied natural gas ("LNG") project. Its operations are located
offshore Trinidad and Tobago, Western Canada, North Africa,
offshore Eastern Canada, and offshore Eastern United States. See
Canadian Superior's website at www.cansup.com to review further
detail on Canadian Superior's operations.
This news release contains forward-looking information,
including the expectation of successful future results. Actual
results could differ materially due to changes in project
schedules, commercial negotiations, changes in energy pricing,
unforeseen technical or the inability to raise additional capital,
therefore there can be no assurance that any of the foregoing
actions by the Company will be completed as contemplated.
Forward-looking information contained in this news release is as of
the date of this news release. The Company assumes no obligation to
update and/or revise this forward-looking information except as
required by law.
Statements contained in this news release relating to future
results, events and expectations are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements involve known and unknown
risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates,
projections, resource potential and/or reserves, interpretations,
prognoses, schedules or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
statements. Such factors include, among others, those described in
the Company's annual reports on Form 40-F or Form 20-F on file with
the U.S. Securities and Exchange Commission.
Contacts: Canadian Superior Energy Inc. Investor Relations (403)
294-1411 (403) 216-2374 (FAX) Website: www.cansup.com Canadian
Superior Energy Inc. Suite 3200, 500 - 4th Avenue S.W. Calgary,
Alberta, Canada T2P 2V6
Grafico Azioni Canadian Superior (AMEX:SNG)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Canadian Superior (AMEX:SNG)
Storico
Da Giu 2023 a Giu 2024