Butte Energy Inc. Announces Debt Financing

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[{"type":"text","content":"\n\n\nTSXV ticker symbol: BEN\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\nCALGARY, Dec. 16, 2013 /CNW/ - Butte Energy Inc. (the \"Corporation\") (TSXV: BEN) is pleased to announce that it has borrowed $550,000 from\n Mr. Victor Redekop, Chairman of the Corporation.  In exchange, the\n Corporation issued an unsecured promissory note to Mr. Redekop which\n bears interest at prime plus 3% and is due and payable together with\n the accrued interest on December 31, 2015.  The proceeds from the\n financing will be used by the Corporation for working capital and\n ongoing operations.\n\n\nIn conjunction with the financing the Corporation renegotiated the\n maturity dates of the existing promissory notes held by Mr. Redekop to\n December 31, 2015. The existing promissory notes shall continue to be\n unsecured and accrue interest at prime plus 3% to maturity on December\n 31, 2015.\n\n\nInformation Regarding the Corporation\n\n\nThe Corporation is an emerging oil and gas company engaged in the\n exploration for and development and production of oil and natural gas\n reserves in Western Canada.  The Corporation's common shares trade on\n the Exchange under the symbol \"BEN\".\n\n\nNeither the TSX Venture Exchange, Inc. nor its Regulation Service\n Provider (as that term is defined under the policies of the TSX Venture\n Exchange) has neither approved nor disapproved of the contents of this\n press release.\n\n\nSOURCE Butte Energy Inc.\n\n\n\n Butte Energy Inc. Victor Redekop, Chairman (403) 541-5310 Copyright CNW Group 2013","length":2447,"tagName":"div"}]

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