VANCOUVER, BC, May 2, 2023
/CNW/ - Canada Energy Partners Inc. (NEX: CE.H) (the
"Corporation"). The Corporation announces an
amendment to the terms of the previously announced private
placement of convertible debentures to secure up to $150,000 to reflect market conditions. The
amended terms of the convertible debentures provide that the
principal amount may at the option of a holder be converted into
units consisting of a common share at an issuance price of
$0.03 and a share purchase warrant
entitling the holder thereof to acquire an additional common share
at an exercise price of $0.05 for a
period of 12 months. The convertible debentures will be
non-interest bearing and will have a maturity date of 12 months as
previously announced.
The amended terms of the convertible debentures are subject to
approval of the TSX Venture Exchange. All securities to be issued
in connection with the private placement will be subject to a 4
month hold period from the date of issue in accordance with
applicable securities laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words or statements that certain events or
conditions "may" or "will" occur, including, without limitation,
estimated revenues. Forward-looking statements in this press
release include statements about the anticipated filing deadline
for the Annual Filings. Forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. These factors include,
without limitation, the failure to file the Annual Filings by the
anticipated date. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The
forward-looking statements contained in this press release are made
as of the date hereof, and the Company undertakes no obligation to
update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
so required by law.
SOURCE Canada Energy Partners Inc.