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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Jumbo Petroleum (Tier2) | TSXV:JBO | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
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Jumbo Petroleum Corporation ("Jumbo") (TSX VENTURE:JBO) announces that has
entered into a Letter of Intent, effective November 29, 2007 to sell all the
outstanding shares and loan accounts of the Jumbo subsidiary company, Gigantic
Canadian Petroleum Ltd. ("Gigantic") to the Company's Debenture Holders, for a
total consideration of approximately $8 million. Gigantic holds all the issued
and outstanding shares of Jumbo American Petroleum Company, a Nevada
Corporation, which holds all of Jumbo's oil and gas interests.
The proceeds from the above sale will be used to pay off Jumbo's outstanding
indebtedness to debenture holders of $7,030,000 plus accrued interest.
After this transaction Jumbo will hold a number of diamond exploration claims
located in the North West Territories Canada. Jumbo will continue to pursue oil
and gas and other energy opportunities.
Shares Outstanding: 55,365,992
1 Year Jumbo Petroleum (Tier2) Chart |
1 Month Jumbo Petroleum (Tier2) Chart |
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