Alaska Pacific Energy Corp Announces A Deal To Exchange Much Of Its Third Party Non Affiliated Debt Into Convertible Preferred Stock.
May 10, 2017
OTC Disclosure & News Service
Lake Worth, FL -
Alaska Pacific Energy Corp Announces A Deal To Exchange Much Of Its Third Party Non Affiliated Debt Into Convertible Preferred Stock.
May 10, 2017
DEL RAY BEACH, Fl., May. 10, 2017
DEL RAY BEACH, Fl., May. 10th, 2017 /RSS FEED -- Alaska Pacific Energy Corp. (OTC PINK: ASKE) is pleased to announce that it has a reached a deal with all most of its third party non affiliated debt holders to exchange the notes for convertible preferred stock which is an equity instrument for the public company. The preferred shares do not allow its holders to simply self convert without an issuance resolution from management and this is important because the securities would otherwise classified as derivative liabilities. The opinion of management and it's outside consultants is that Alaska Pacific Energy Corp needs to build a strong balance sheet now that assets and equity are being contemplated in future acquisitions. The fact that our debt holders are prepared to exchange their notes for equity instruments is a tremendous step in the right direction.
Furthermore Alaska Pacific Energy Corp believes that its shareholders will be best served in seeing fundamental changes to the consolidated financial statements of the company. The company's expectation is to increase shareholder equity which management believes will embolden investor confidence.
The company will release more news and updates in the coming days and weeks as it directly relates to its consolidated financial statements and all such events related to the operations of Alaska Pacific Energy Corp.
FORWARD-LOOKING INFORMATION
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