Edge Resources Inc. Demand by Lender to Repay Outstanding Indebtedness (1319U)
April 05 2016 - 2:00AM
UK Regulatory
TIDMEDG
RNS Number : 1319U
Edge Resources Inc.
05 April 2016
TSX Venture Exchange Symbol: EDE
AIM Exchange Symbol: EDG April 5, 2016
EDGE RESOURCES INC. Calgary, Alberta
Edge Resources Announces Demand by Lender to Repay Outstanding
Indebtedness and Notice of Intention to Enforce Security
Edge Resources Inc. ("Edge" or the "Company") announces that its
lender, Alberta Treasury Branch ("ATB"), has made demand upon Edge
for payment in full of Edge's outstanding indebtedness in the
aggregate amount of approximately $8.4 million plus interest, costs
and fees by Monday, April 11, 2016 at 5:00 p.m. In addition, ATB
has provided Edge with a Notice of Intention to Enforce Security
pursuant to subsection 244(1) of the Bankruptcy and Insolvency Act
(Canada).
The Company is in continued discussions with its subordinated
lender to acquire the debt from ATB. While the Company is hopeful
and encouraged that its subordinated lender will acquire the debt,
which would allow the Company to continue operating, there are no
guarantees this will happen before the deadline imposed by ATB.
As announced on March 4(th) and 15(th) 2016, trading in the
Company's shares on AIM is currently suspended as the Company does
not have an AIM nominated adviser appointed. The Company's
admission to AIM will be cancelled on April 15(th) , 2016, as it
does not intend to appoint a new nominated adviser.
For more information, visit the company website: www.edgeres.com
or contact:
Brad Nichol, President and CEO Phone: +1 403 767 9905
About Edge Resources Inc.
Edge Resources is focused on developing a balanced portfolio of
oil and natural gas assets from properties in Alberta and
Saskatchewan, Canada. Management has consistently focused on:
1. Shallow, vertical, conventional programs with reduced
capital, operational and geological risks
2. Very high or 100% working interests and fully operated assets
3. Pools and horizons with large reserves in place
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFFDSFISIIR
(END) Dow Jones Newswires
April 05, 2016 02:00 ET (06:00 GMT)
Edge Res (LSE:EDG)
Historical Stock Chart
From Jul 2024 to Aug 2024
Edge Res (LSE:EDG)
Historical Stock Chart
From Aug 2023 to Aug 2024