Gordon Creek Energy - Announces Debenture Amendment and Statement of Claim
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 05/05/15 -- Gordon Creek Energy Inc. (TSX VENTURE: GDN) (the "Company") today announced that at a meeting of the holders of its 15% Gas Linked Debentures held March 25, 2015, the debenture holders unanimously approved that the following modifications to the terms of the debentures:
The debenture holders also approved and consented to the terms of the bridge financing provided by Excalibur Partners XX, LP and the amendments to the Company's streaming agreement with Sandstorm Gold Ltd. Both of these transactions were announced in a news release dated March 11, 2015.
The Company also announced that a Statement of Claim has been filed against the Company and its directors in Alberta Supreme Court related to damages allegedly suffered by 5 shareholders of the Company as a result of the decline in the price of the Company's shares. Each shareholder alleges that they have suffered $150,000 in damages. The Company has retained legal counsel and is of the view that the claim is entirely without merit. The claim will be vigorously defended.
The Company has recently commenced a program of re-working and re-activating some of its previously drilled ("PDNP") wells at its Gordon Creek natural gas field, as also described in the March 11, 2015 news release. The Company will provide an update on these operations following completion of the program.
Gordon Creek Energy Inc. is an oil and gas exploration and production Company with interests in the US Rockies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward- looking information
Information in this news release, including information respecting the Company's financing and capitalization plans, potential reserves and cash flows, constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation. Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Contacts:
Gordon Creek Energy Inc.
Rupert Evans
President & CEO
403-453-1608
Gordon Creek Energy Inc.
John Bell
CFO
403-453-1608
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Unternehmensinformation / Kurzprofil:
Datum: 05.05.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 390938
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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