Canoel Provides Update on Swap Agreement
25 January 2014 - 1:00AM
Access Wire
January 24, 2014 - Calgary, Alberta-
Canoel International Energy Ltd. ("Canoel" or the
"Company") (TSX VENTURE: CIL) is pleased to
announce that the share swap transaction announced on September 25,
2013 with Global Resources Investments Ltd ("GRIL") is scheduled to
close on January 24, 2014 pursuant to which it will issue 1,600,000
common shares in the capital of the Company to GRIL at a price of
$0.25 per share in exchange for 224,001 ordinary shares of GRIL at
a price of ?1.00 per share (the "GRIL Shares").
Canoel intends to sell the GRIL
Shares through the facilities of the London Stock Exchange to
realize the proceeds from the issuance of its common shares.
The transaction
remains subject to final approval of the TSX
Venture Exchange.
For
further information, please contact:
Jose Ramon Lopez
Portillo Andrea Cattaneo
Chairman of the Board CEO & President
Email:
info@canoelenergy.com
Telephone: (403) 938-8154
Telefax: (403) 775-4474
This press release is not to be
distributed to U.S. newswire services or for dissemination in the
United States. Any failure to comply with this restriction may
constitute a violation of U.S. securities law.
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