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Greenfields Petroleum announces issuance of shares pursuant to loan agreement


Published Jan 31, 2014
Greenfields Petroleum Corporation-2

Greenfields Petroleum Corporation, announces that, pursuant to the terms of the previously announced loan agreement among an arm's length third party (the "Lender"), the Company, Greenfields Petroleum Holdings Ltd. and Greenfields Petroleum International Company Ltd., the Company has issued 226,510 common shares of the Company to the Lender as bonus shares ("Bonus Shares") in consideration of the Lender funding the Third Tranche Advance of $10 million on January 28, 2014. The Bonus Shares are subject to a four month hold period under applicable Canadian securities laws.

The Company intends on continuing its discussions with potential lenders with respect to eventually replacing the US$25 million loan facility on more favorable terms with reserve based lending.

Tags: Greenfields Petroleum Corporation




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