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A News Story on Solimar Energy, Shares Stayed Put (CVE: SXS)

Anonymous (not verified) | 01/03/14

Today, Solimar Energy Limited (CVE: SXS) shares were unaffected at $0.055 after a company update. MELBOURNE, AUSTRALIA-- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Solimar Energy Circumscribed provides notice to the holders of spectacular debentures, which were issued consistent to the trust indenture dated February 10, 2012, as amended July 27, 2012, that the Company has satisfied its obligation to pay the principal and remaining interest to February Debentureholders on December 31, 2013 by issuing an aggregate of 24,529,905 coarse shares of the Company. The Company reminds the February Debentureholders that their receipt of their portion of the Debenture Repayment Shares will merely be effected upon their presentation and surrender of the first debenture certificate to Computershare Trust Company of Canada at its principal trust office in Calgary, Alberta. Solimar has too issued 1,423,490 coarse shares to the holders of those debentures issued on 31 July 2012 in satisfaction of its obligation to pay interest on the June Debentures for the December 2013 quarter below the terms of the debenture indenture dated June 26, 2012 as amended August 14, 2013. The shares and Debenture Repayment Shares issued to satisfy the interest have been made below the Company's 15% placement capacity per ASX Listing Rule 7.1. An application for quotation on ASX of the shares and Debenture Repayment Shares is being made. The stock saw unusually high volume today with over 45 thousand shares traded so far this trading session versus the regular 22K or so shares traded on an average day.