![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Avidian Gold Corp | TSXV:AVG | 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% | 0.01 | 0.01 | 0.015 | 750 | 01:00:00 |
Avatar Energy Ltd. ("Avatar") (TSX VENTURE:AVG) announces that, in furtherance to its previously announced strategic review process and its press release dated November 23, 2012, it has concurrently signed a sale agreement and closed, in trust, the sale of its working interest in properties located in the Pembina Strawberry Creek area to an arm's length third party (the "Purchaser") for cash gross proceeds of approximately $1.8 million, minus adjustments (the "Transaction"). The Transaction represents a decrease of $1.41 million in proceeds (as compared to the expected proceeds disclosed by Avatar in its press release dated November 23, 2012). The decrease in proceeds was negotiated in exchange for obtaining the Purchaser's waiver of certain closing conditions. The net proceeds from the Transaction will be used to repay indebtedness owing under Avatar's credit facility and for general corporate purposes to the extent allowed by its lender. A finder's fee of $42,931.33 will be paid to CB Securities Inc. for services provided as financial advisor to the board of directors with respect to the strategic review process. On a post-transaction basis, Avatar will continue to be listed on the TSXV and will focus on identifying oil prone properties for acquisition and exploitation utilizing horizontal drilling techniques and enhanced completion procedures. FORWARD LOOKING STATEMENTS This press release contains forward looking statements. More particularly, this press release contains statements concerning the completion of the use of proceeds from the Transaction. Although the Corporation believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The risks to which the Corporation is subject include, but are not limited to, operational risks inherent in the exploration, development and production of oil and gas; availability of financing; general economic conditions and changes in the capital markets; volatility of oil and gas prices; competition; and changes in legislation and the regulatory environment. The forward looking statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. FOR FURTHER INFORMATION PLEASE CONTACT: Avatar Energy Ltd. Mr. Alan D. Jack, P. Eng President & Chief Executive Officer (403) 517-8818 Avatar Energy Ltd. Ms. Lorie J. Hynes, CA Chief Financial Officer (403) 517-8818
1 Year Avidian Gold Chart |
1 Month Avidian Gold Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions