CALGARY,
July 9, 2014 /CNW/ - Stream Oil &
Gas Ltd. (TSX-V: SKO) ("Stream" or the "Company") provides
clarification regarding the Letter of Intent ("LOI") entered into
with Letho Resources Corp. (TSX-V: LET) ("Letho") announced on
July 7, 2014. Stream has entered into
the LOI to borrow up to Cdn$5.0
million from Letho with the loan to be evidenced by the
issuance of a debenture to 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.
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Forward-Looking Statements
This news release contains forward-looking
statements that address future events and conditions and are
subject to various risks and uncertainties in relation to the
Company under the meaning of applicable securities laws, including
Canadian Securities Administrators' National Instrument 51-102
Continuous Disclosure Obligations. Specifically, the completion of
the debenture arrangements is subject to finalization of the terms
of the debenture that will be mutually agreeable to Stream and
Letho and to TSX Venture Exchange acceptance for both
companies.
The forward-looking statements contained
herein are made as of the date of this release solely for the
purpose of generally disclosing the proposed debenture with Letho.
Investors are cautioned that these forward-looking statements are
neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially
from those expected. There is no assurance that the debenture
arrangements will be completed as presently anticipated or at all.
Forward-looking statements are based on the expectations and
opinions of the management of the Company on the date the
statements are made, and are based on assumptions made by and
information currently available to the Company, and involve known
and unknown risks, uncertainties and other factors. The assumptions
used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward-looking statements. These forward-looking statements are
made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or
circumstances except as required under applicable securities
legislation.
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.