Lonestar Closes Debenture Financing
March 22 2011 - 4:29PM
Marketwired
Lonestar West Inc. (TSX VENTURE: LSI) ("Lonestar" or "the Company")
announces that it has completed a secured debenture financing in
the aggregate amount of $800,000 (the "Loan"). The debentures carry
an annual interest rate of 16% and have a maturity date of March
31, 2013. The obligations under the debenture are secured by
Lonestar's grant of a security interest in its assets (including
the assets of its subsidiaries) in favour of the debenture holders.
None of the Company's common shares or securities convertible
into common shares are being issued in connection with the Loan and
no commissions or finder's fees are applicable in connection with
the Loan either. This secured debenture financing will provide
Lonestar with funds to acquire three hydro-vac trucks.
About Lonestar West
The Company currently operates a fleet of HVAC and vacuum trucks
throughout Western Canada from its base in Sylvan Lake, Alberta. It
is focussed on profitably growing its HVAC services to become a
major national competitor in the market area.
For more information please visit the Lonestar West website at
www.lonestarwest.com.
NEITHER THE 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 RELEASE.
Contacts: Lonestar West Inc. James Horvath President & CEO
403-887-2074 info@lonestarwest.com www.lonestarwest.com
Lonestar West Inc. (TSXV:LSI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lonestar West Inc. (TSXV:LSI)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
More Lonestar West Inc. News Articles