Quattro Exploration and Production Announces the Closing of Financing for Total Proceeds of $ 500,000
03 Gennaio 2014 - 2:21PM
Marketwired
Quattro Exploration and Production Announces the Closing of
Financing for Total Proceeds of $ 500,000
CALGARY, ALBERTA--(Marketwired - Jan 3, 2014) - QUATTRO
Explorations and Production Ltd. (the "Company") (TSX-VENTURE:QXP)
is pleased to announce the closing of a Convertible Debenture for
$500,000 on December 31st, 2013. There were 500 convertible
debentures issued each having a value of $1,000 each, paying an
annual rate of 8% for 3 years with a conversion price of $0.50 into
one common share, or 2,000 shares per debenture. The debentures
being issued were to insiders of the Corporation. The Company
without taking into account the conversion of the current financing
has 34,994,778 shares outstanding.
Completion of the
Offering is subject to the final approval of the TSX Venture
Exchange.
Proceeds of the
financing will be used to advance the business of the Company.
About Quattro
Exploration and Production Ltd.
Quattro Exploration
and Production Ltd. is focused on the conventional exploration and
development of oil and natural gas reserves in Western Canada. Our
growing core of low risk production and development drilling will
provide us the capacity to aggressively pursue a series of high
impact exploration and development efforts in Central and South
America. The company intends to balance this portfolio of
activities to assure its shareholders that it achieves material
growth including reserves, production and profitability.
This release
includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements
of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events
or developments that the Company expects are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and those actual results or
developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
Investors should review the Company's registered filings which are
available at www.sedar.com.
This news
release shall not constitute an offer to sell or the solicitation
of any offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities offered have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state
securities laws.
BOE
presentation:
Barrel ("bbl")
of oil equivalent ("boe") amounts may be misleading particularly if
used in isolation. All boe conversions in this report are
calculated using a conversion of six thousand cubic feet of natural
gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on
an energy conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the well
head.
Trading in the
securities of Quattro Exploration & Production Ltd. should be
considered highly speculative. 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.
Quattro Exploration & ProductionLeonard Van BetuwPresident
and Chief Executive OfficerOffice (403) 984-3917 or Direct Line
(587) 228-7070leonard@qxp-petro.comwww.qxp-petro.com
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