Crown Point Announces Issuance of US$7,183,058 of Series V Notes
August 08 2024 - 6:49PM
TSX-V: CWV: Crown Point Energy Inc.
("
Crown Point", the "
Company" or
"
we") is pleased to announce that its wholly-owned
Argentine subsidiary, Crown Point Energía S.A.
("
CPE"), has issued a total of US$7,183,058
principal amount of Series V unsecured fixed-rate notes
("
Series V Notes"), which are denominated in US$
and payable in Pesos (the "
Offering").
The total principal amount of the Series V Notes
will be repaid in one installment on February 8, 2026. The Series V
Notes accrue interest at a fixed rate of 8% per annum, payable
every three months in arrears from the issue date.
The net proceeds from the Offering will be used
for general corporate purposes and to make investments in the
development of assets in Argentina.
The Offering was made pursuant to CPE's
Negotiable Obligations Issuance Global Program for up to US$75
million (or its equivalent in other currencies) established by
CPE's base prospectus dated July 25, 2024, as supplemented by
prospectus supplement dated August 2, 2024, copies of which can be
found in Spanish on the Financial Information Highway on the CNV
website (https://www.argentina.gob.ar/cnv), on the primary
placements micro-website (MPMAE) of the Mercado Abierto Electrónico
S.A. ("MAE"), and in the Bolsas y Mercados
Argentinos S.A.'s and MAE's daily electronic bulletin.
CPE now has the following notes outstanding:
US$10,465,436 principal amount of Series III Notes; US$13,476,000
principal amount of Series IV Notes; and US$7,183,058 principal
amount of Series V Notes.
References to "US$" are to United States dollars
and references to "Pesos" are to Argentine pesos.
About Crown Point
Crown Point is an international oil and gas
exploration and development company incorporated in Alberta,
Canada, trading on the TSX Venture Exchange and operating in
Argentina. Crown Point's exploration and development activities are
focused in three producing basins in Argentina, the Austral basin
in the province of Tierra del Fuego, and the Neuquén and Cuyano
basins in the province of Mendoza. Crown Point has a strategy that
focuses on establishing a portfolio of producing properties, plus
production enhancement and exploration opportunities to provide a
basis for future growth.
Forward-looking Information: This document
contains forward-looking information. This information relates to
future events and the Company's future performance. All information
and statements contained herein that are not clearly historical in
nature constitute forward-looking information. Such information
represents the Company's internal projections, estimates,
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. This information
involves known or unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking information. Crown Point
believes that the expectations reflected in this forward-looking
information are reasonable; however, undue reliance should not be
placed on this forward-looking information, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. This press release contains
forward-looking information concerning, among other things, the
anticipated use of proceeds of the Offering and certain elements of
the Company's business strategy and focus. The reader is cautioned
that such information, although considered reasonable by the
Company, may prove to be incorrect. Actual results achieved during
the forecast period will vary from the information provided in this
document as a result of numerous known and unknown risks and
uncertainties and other factors. A number of risks and other
factors could cause actual results to differ materially from those
expressed in the forward-looking information contained in this
document including, but not limited to, the following: the risk
that CPE determines to use the proceeds of the Offering for
purposes other than as disclosed herein; and the risks and other
factors described under "Business Risks and Uncertainties" in the
Company's most recently filed management's discussion and analysis
and under "Risk Factors" in the Company’s most recently filed
Annual Information Form, which are available for viewing on SEDAR+
at www.sedarplus.ca. With respect to forward-looking information
contained in this document, the Company has made assumptions
regarding various matters, including how the proceeds of the
Offering will be used. Management of Crown Point has included the
forward-looking information included in this document in order to
provide investors with a more complete perspective on the Company's
future operations. Readers are cautioned that this information may
not be appropriate for other purposes. Readers are cautioned that
the foregoing lists of factors are not exhaustive. The
forward-looking information contained in this document are
expressly qualified by this cautionary statement. The
forward-looking information contained herein is made as of the date
of this document and the Company disclaims any intent or obligation
to update publicly any such forward-looking information, whether as
a result of new information, future events or results or otherwise,
other than as required by applicable Canadian securities laws.
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 news release.
For inquiries please contact:
Gabriel Obrador
President & CEO
Ph: (403) 232-1150
Crown Point Energy Inc.
gobrador@crownpointenergy.com
Marisa Tormakh
Vice-President, Finance & CFO
Ph: (403) 232-1150
Crown Point Energy Inc.
mtormakh@crownpointenergy.com
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