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.
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