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Alaska Pacific Energy Corp Is Pleased To Announce That Most Of The Company's Existing Debt Obligations, Have Been Exchanged For Convertible Preferred Stock.
Alaska Pacific Energy Corp Is Pleased To Announce That Most Of The Company's Existing Debt Obligations, Have Been Exchanged For Convertible Preferred Stock..
About this update from Alaska Pacific Energy Corp.
[{"type":"text","content":"\n \n Normal\n 0\n \n \n \n \n false\n false\n false\n \n EN-US\n X-NONE\n X-NONE\n \n \n \n \n \n \n \n \n \n \n \n \n \n MicrosoftInternetExplorer4\n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\nAlaska Pacific Energy Corp Is\nPleased To Announce That Most Of The Company's Existing Debt\nObligations, Have Been Exchanged For Convertible Preferred Stock.\n\nJune\n20, 2017\n\nOTC Disclosure & News\nService\n\nDEL RAY BEACH, Fl., June 20,\n2017\n\n\n\n\n\nDEL RAY BEACH, Fl.,\nJune 20, 2017 /RSS FEED -- Alaska Pacific Energy Corp. (OTC PINK:\nASKE) is pleased to announce that in keeping with its desired objective to\nbecome a business development corporation, the company has successfully\nnegotiated the exchange of well up to 90% of their existing debt obligations\ninto convertible preferred stock.\n\nThe convertible preferred stock\nis equity to the company, as the aforementioned securities require issuance\nresolutions from management. This will help solidify the financial statements\nof the company as Alaska Pacific Energy Corp looks to decrease its current debt\nobligations. The next step for the public company is to increase cash or cash\nequivalents on its balance sheet, so that the company can proceed to a PCAOB\naudit. Additionally the company's authorized capital will revert back to\n15 billion shares, which was a prerequisite for concluding the exchange\nagreements for equity with the debt holders. \n\n\n\n\n\nFORWARD-LOOKING INFORMATION\n\nSafe Harbor Statement:\n\n\n\n\n\nThis release may include\n\"forward looking statements\" within the meaning of Section 27 A of\nthe Securities Act 1933 as amended, and Section 21 E and/or 27 E of the\nSecurities Exchange Act of 1934, that are based on assumptions that in the\nfuture are inherently uncertain, may prove not to be accurate, and are subject\nto significant risks and uncertainties. These include, but are not limited to\nstatements as to the future performance of the company, its ability to raise\nnecessary financing, and other general economic risks and uncertainties\n\n \n\nCopyright © 2017 OTC Markets.\nAll Rights Reserved\n\n\n\n\n\nThe\nabove news release has been provided by the above company via the OTC\nDisclosure and News Service. Issuers of news releases and not OTC Markets Group\nInc. are solely responsible for the...