MOUNTAINVIEW ENERGY LTD - CONVERTIBLE DEBENTURE PRIVATE PLACEMENT TO RAISE
$1,100,000
SYMBOL: "MVW"
CUT BANK, MT, Oct. 14 /CNW/ - Mountainview Energy Ltd. (TSXV: MVW) (the "Company") is pleased to announce that it has arranged a non-brokered private placement of convertible debentures in the aggregate amount of $1,100,000. The convertible debentures have a one-year repayment period, repayable in full with accrued interest at prime + 1% per annum on maturity. The holder may at any time during the term of the debenture convert all or part into common shares of the Company at a conversion price of $2.50 per share.
Proceeds from the private placement will be used to further the Company's acquisition and development program and for general corporate purposes.
All securities issued in connection with the private placement will be subject to a minimum four-month hold period. This private placement is subject to acceptance by applicable securities regulatory authorities and the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF MOUNTAINVIEW ENERGY LTD.
"Patrick M. Montalban"
President & CEO
"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."
For further information:
MOUNTAINVIEW ENERGY LTD
PO Box 200
Cut Bank, MT 59427
E-Mail: [email protected]
Web Site: www.mountainviewenergy.com
Phone: (406) 873-2235 Fax: (406) 873-2835
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