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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Stampede Drilling Inc | TSXV:SDI | 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% | 0.235 | 0.23 | 0.235 | 0 | 01:00:00 |
CALGARY, AB, Sept. 14, 2020 /CNW/ - Stampede Drilling Inc. ("Stampede") announces that it has received final approval from the TSX Venture Exchange to restructure the terms of its 10.00% convertible unsecured debentures (the "Debentures").
Under the terms of the amending agreements Stampede intends to enter into with the holders of Debentures effective as of October 31, 2020 (collectively, the "Amending Agreements"):
Stampede expects to enter into Amending Agreements with all debentureholders; however, in the event any debentureholder elects not to enter into an Amending Agreement, such debentureholders' Debentures will continue to be in effect in accordance with their current terms.
About Stampede
Stampede is a public company engaged in the provision of drilling rig services to the oil and natural gas industry in North America. Stampede's current principal markets for its services are the provinces of Saskatchewan, Alberta and British Columbia.
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.
ADVISORY ON FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of Stampede as of the date of this news release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning: the intention of entering into the Amending Agreements; and the ability of Stampede to enter into Amending Agreements with each of the debentureholders. Such forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
The forward-looking statements address future events and conditions and, as this is the case, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the failure to successfully enter into Amending Agreements with the remaining debentureholder in a timely manner, or at all.
Readers are cautioned that the foregoing list of factors is not exhaustive. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Stampede undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Stampede Drilling Inc.
Copyright 2020 Canada NewsWire
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