Business
CruzSur Announces Interest Payment
CruzSur Announces Interest Payment Canada NewsWire VANCOUVER, May 7, 2020 ...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n\n\n\nCruzSur Announces Interest Payment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 7, 2020\n\n\n\nVANCOUVER, May 7, 2020 /CNW/ - CruzSur Energy Corp. (the \"Company\" or \"CruzSur\") (TSXV: CZR) announces that pursuant to the convertible debentures issued on May 7, 2019 (the \"Convertible Debentures\"), the Company has elected to issue common shares of the Company (the \"Shares\") in satisfaction of the aggregate accrued interest owing on such Convertible Debentures. Under the terms of the Convertible Debentures, interest has accrued at a rate of 10% per annum resulting in a total amount owing of $161,343.72 as at May 7, 2020. The Company will satisfy the aggregate accrued interest owing by issuing 806,719 Shares having a deemed price of $0.20 per share. The price per share was determined using the 30-day volume weighted average price of the Shares on the TSX Venture Exchange (the \"TSXV\") ending on May 6, 2020.\nThe Shares will be subject to a four month hold period in accordance with applicable Canadian securities laws and are subject to the acceptance of the TSXV.\nAbout CruzSur Energy Corp. CruzSur Energy Corp. is a publicly traded E&P company focused on proven oil & gas plays in Latin America. The Company holds a large diversified portfolio of producing, development and unexploited assets in Colombia and Argentina where it will leverage its amplitude of technical expertise and proven track record building companies and creating value.\nComplete reports and statements are available on SEDAR at www.sedar.com and on the Company website http://www.cruzsur.energy.\nForward-Looking InformationExcept for the statements of historical fact, this news release contains \"forward-looking information\" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release.  The information in this news release about the completion of the operations described herein, and other forward-looking information includes but is not limite...