BRS Resources Announces Conversion of Notes to Shares
01 December 2011 - 1:30AM
Marketwired
BRS Resources (TSX-V: BRS) ("BRS" or the "Company") announced that
it has completed the conversion of two convertible notes in the
aggregate principal amount of $6,000,000 into an aggregate of
20,000,000 common shares of the Company at a conversion price of
$0.30 per share. Subscribers of the convertible notes and
recipients of the common shares are two hedge funds managed by
Carlson Capital, L.P.
Carlson Capital, L.P. is an alternative asset management firm.
Founded in 1993, the firm currently manages over six billion
dollars across multiple hedge fund products. Based in Dallas,
Carlson is an independently owned registered investment advisor
with offices located in New York; Greenwich, CT; London and
Houston.
The common shares issued upon conversion of the notes have not
been registered under the United States Securities Act of 1933 (the
"1933 Act") and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the 1933 Act.
ABOUT BRS RESOURCES
BRS Resources is listed on the TSX Venture Exchange under the
symbol BRS. The Company is an independent international oil and gas
company focused on the development and production of oil and
natural gas reserves.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve Moore President/CEO Phone: 214-699-9470
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE
For further information, please contact David Russell Director
of Investor Relations/Corporate Communications 214-699-9470 Email
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