Corridor Converts Notes to Common Shares

Corridor Resources Inc. (TSX VENTURE: CDH) reports that holders of 99.7% of Corridor's $3,000,000 convertible notes have chosen to convert their notes into common shares at the conversion price of $1.60 per share. The remaining $9,000 principal amount of the notes has been redeemed. The conversion has resulted in the issuance of 1,869,372 common shares. As a result of the conversion of the substantial majority of the notes, the $3,000,000 that had been segregated will be available for further drilling and fracing activities at the McCully field in New Brunswick.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours