Bengal Energy Extends Maturity Date of $1.75 Million Private Placement Non-Convertible Notes
CALGARY, April 18, 2013 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal", or the "Company") announces that it has agreed with the holders of Bengal's $1,750,000 aggregate principal amount of non-convertible notes ("Non-Convertible Notes") to extend the term of the Non-Convertible Notes from July 24, 2013 to January 24, 2014. As consideration for the extension of the maturity date, Bengal and the holders have also agreed that the interest rate payable under the Non-Convertible Notes will be increased to 10% per annum from prime plus 3% effective July 25, 2013.
Bengal Energy Ltd. is an international junior oil and gas exploration and production company based in Calgary, Alberta. The Company is committed to growing shareholder value through international exploration, production and acquisitions. Bengal trades on the TSX under the symbol BNG. Additional information is available at www.bengalenergy.ca.
SOURCE Bengal Energy Ltd.
More by this Source
Bengal Energy Announces Election by Insiders to Convert Convertible Notes
Jul 22, 2013, 08:00 ET
Bengal Energy Announces Closing of $8.0 Million Private Placement
Jul 05, 2013, 14:59 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.