CALGARY, March 28, 2014 /CNW/ - Stream Oil & Gas Ltd.
(TSX-V: SKO) ("Stream" or the "Company") announces that the Company
has arranged a bridge loan (the "Loan") of Cdn$5.0 million from an individual insider
shareholder of the Company (the "Lender"). The Loan is
advanced in two tranches of Cdn$3.0 million on execution of loan
agreements and Cdn$2.0 million
upon the delivery of security in the form of common shares from
Sotirios Kapotas (President, Chief
Executive Officer and a Director of the Company) and Arian Tartari (Vice President, Albania).
The Loan is for a six-month term and bears
interest at 10% per annum, calculated and compounded monthly.
The Company may prepay the Loan, in whole or in part, at any time
without notice, bonus or penalty. Proceeds from the Loan will
be used to provide additional capital to advance Stream's
contemplated drilling programs.
The Loan and related transactions are subject to
the TSX Venture Exchange's notice requirements.
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About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based
emerging oil and gas production, development and exploration
company focused on the re-activation and re-development of three
oilfields and a gas/condensate field in Albania. The Company's strategy is to use
proven technology, incremental and enhanced oil recovery techniques
to significantly increase production and reserves.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Stream Oil & Gas Ltd.