Consolidated Beacon Resources Ltd. Secures Loan
07 March 2009 - 8:04AM
Marketwired
Consolidated Beacon Resources Ltd. ("Beacon" or "the Company")
(TSX-V: KBC) announces that it entered into a Loan Agreement dated
December 2008 with North American Gem Inc. The purpose of the loan
is to secure the Company's interest in the San Joaquin Property,
California. The principal of the loan is $400,000.00 CDN with
interest calculated at 7.5% annually and shall become due in full
on March 31, 2009. North American Gem Inc. has registered a General
Security Agreement against the personal property of the Company.
The Company and its Partners (the "Partners") began drilling the
East Slopes Project in November 2008 and to date four wells have
been drilled, with one well currently in production.
About Consolidated Beacon Resource Ltd.
Consolidated Beacon Resource Ltd. is in the business of
evaluating and acquiring oil and natural gas properties for
exploration and development in Canada and the United States. The
Company's shares trade on the TSX Venture Exchange under the symbol
KBC.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This release may contain or be deemed to contain forward-looking
statements that involve risks and uncertainties. These statements
may differ materially from actual events or results. Readers are
referred to the most recent documents filed by the Corporation on
SEDAR (www.sedar.com), specifically the most recent reports which
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking statements. The
Corporation undertakes no obligation to review or confirm analysts'
expectations or estimates or to release publicly any revisions to
any forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events. Forward-looking statements include references to production
and cash flows before and after payout.
FOR FURTHER INFORMATION ABOUT THE COMPANY, PLEASE CONTACT:
Consolidated Beacon Resources Ltd. Vancouver Office Archie Boyce
Director Email: archie@consolidated-beacon.com Telephone: (604) 683
5445 ext 227 Website http://www.consolidated-beacon.com VANCOUVER
OFFICE 430-609 Granville Street Vancouver, BC, Canada V7Y 1G5 Phone
604-683-5445 Facsimile 604-687-9631 info@consolidated-beacon.com
www.consolidated-beacon.com TSX-Venture: KBC
Cons Beacon Resources Ltd. (Tier2) (TSXV:KBC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Cons Beacon Resources Ltd. (Tier2) (TSXV:KBC)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Cons Beacon Resources Ltd. (Tier2) (TSX Venture Exchange): 0 recent articles
More Consolidated Beacon Resources Ltd. News Articles