Stream signs Letter of Intent to issue debenture of up to Cdn$5.0 million (Scandinavian Oil-Gas Magazine)

Stream signs Letter of Intent to issue debenture of up to Cdn$5.0 million

Published Jul 8, 2014

Stream Oil & Gas Ltd. has entered into a Letter of Intent (LOI) to arrange the issuance of a debenture of up to Cdn$5.0 million to Letho Resources Corp. (Letho).

Terms of the debenture are being finalized and are expected to include a right of Stream to convert the debenture into shares of Stream and pre-payment privileges, subject to regulatory approval. The Company is arranging the debenture for its capital expenditure program and general working capital purposes.

In connection with the proposed debenture agreement, Robert Hall, President and Chief Executive Officer of Letho, joins Stream's Board of Directors (the "Board") effective July 7, 2014.

Tags: Stream Oil & Gas Ltd.

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