Bengal Energy Extends Maturity Date of $1.75 Million Private Placement Non-Convertible Notes
CALGARY, April 18, 2013 /CNW/ - Bengal Energy (TSX: BNG) (“Bengal“, or the “Company“) announces that it has agreed with the holders of Bengal’s $1,750,000
aggregate principal amount of non-convertible notes (“Non-Convertible Notes“) to extend the term of the Non-Convertible Notes from July 24, 2013 to
January 24, 2014. As consideration for the extension of the maturity
date, Bengal and the holders have also agreed that the interest rate
payable under the Non-Convertible Notes will be increased to 10% per
annum from prime plus 3% effective July 25, 2013.
Bengal Energy Ltd. is an international junior oil and gas exploration
and production company based in Calgary, Alberta. The Company is
committed to growing shareholder value through international
exploration, production and acquisitions. Bengal trades on the TSX
under the symbol BNG. Additional information is available at www.bengalenergy.ca.
SOURCE Bengal Energy Ltd.