Genoil Inc. Announces Creditor Settlement
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 09/20/12 -- Genoil Inc. (TSX VENTURE: GNO) (OTCBB: GNOLF) ("Genoil" or the "Corporation") is pleased to announce that it completed today its previously announced shares for debt transaction. In connection with this transaction, Genoil issued 10,300,460 common shares at a deemed price of $0.07 Cdn per share as part of shares for debt settlement agreements with certain parties for unpaid salaries and other creditors. The total amount of indebtedness settled on closing of this transaction was $721,032.28 Cdn. The shares issued in connection with the settlement of these debts are subject to relevant hold periods from their date of issuance. As part of the transaction, 1,000,000 common shares were issued to insiders of Genoil, excluding the CEO and President.
Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation, and marine technologies.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contacts:
Genoil Inc.
David Lifschultz
Chairman and CEO
(914) 834-7794
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Unternehmensinformation / Kurzprofil:
Datum: 20.09.2012 - 20:05 Uhr
Sprache: Deutsch
News-ID 185539
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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"Genoil Inc. Announces Creditor Settlement"
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