Business
Cantex Energy Corp. obtains $500,000 credit facility.
Cantex Energy Corp. obtains $500,000 credit facility..
About this update from Arkose Energy Corp.
[{"type":"text","content":"San Antonio, TX, January _23_, 2006 / Cantex Energy Corp., (Pink Sheets-CTXE) announced today that it has obtained a $500,000 credit facility with a syndicate of private lenders, some of whom are existing shareholders. Terms are for one year based on 10% interest and the debt may be converted into common shares anytime at no less than $0.75 per share with a warrant to purchase an additional share at no less then $0.80 for one year from the date of any conversion. Any shares that are converted will have a restricted legend, unless the Company files a Registration Statement.\r\nTrace Maurin, President of Cantex Energy, commented, \"with this credit facility we are now positioned to meet our contractual commitments to fund our working interest in the West Ant hills development program with the first well scheduled to commence in late March 2006.\"\r\nThe Company continues its plans to seek additional equity financing and avoid any additional debt obligations.\r\nCantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas. The Company's current focus is the optimal exploitation and development of approximately 1,200 acres known as the West Ant Hills Prospect located in Niobrara County Wyoming.\r\nInvestors are encouraged to visit www.emerginggrowthstocks.com for a recent research profile on CTXE.\r\nCantex Energy Corp., is a Non-Reporting Company, quoted on the Pink Sheets, having filed a Form 211 pursuant to Rule 15c2-11 under the Exchange Act, with the NASD Compliance Unit. See www.pinksheet.com for real time quotes, how to trade pink sheet stocks, how to protect yourself and additional stock information.\r\n\r\nPurchasing shares in Cantex Energy Corp., involves a speculative investment with substantial risks, and although the Company intends to use its best efforts to enhance the value of the Shares, there is no assurance that the Company's operations will be successful\r\nFor more information about Cantex Energy Corp. (Pink Sheets: CTXE) please contact Trace Maurin, President & CEO at (210) 639-3156 or visit their website at www.cantexenergy.com \r\nExcept for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions in the Private Securi...