Brief: Cgx Energy And Frontera Announce Amended Letter Agreement And Shares For Debt Settlement

CGX Energy

17/12/2018 19:10

CGX Energy Inc  OYL.V :
    * CGX ENERGY AND FRONTERA ANNOUNCE AMENDED LETTER AGREEMENT
AND
SHARES FOR DEBT SETTLEMENT
    * CGX ENERGY INC -  ENTERED DEBT SETTLEMENT AGREEMENT WITH
RESPECT
TO SETTLEMENT OF US$1.2 MILLION OF DEBT OWING TO FRONTERA
    * CGX ENERGY INC -  DOES NOT HAVE SUFFICIENT CASH TO REPAY
LIABILITY; DEBT SETTLEMENT IMPROVES LIQUIDITY POSITION
    * CGX ENERGY INC -  UPON COMPLETION OF DEBT SETTLEMENT,
FRONTERA
WILL OWN ABOUT 48.3% OF CO'S SHARES

Source text for Eikon:  ID:nCNWMt6vJa 
Further company coverage:  OYL.V