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.