Gale Force issues shares for debts - ABC 8NEWS - WRIC | Richmond, Virginia News & Weather

Gale Force issues shares for debts

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Gale Force Petroleum Inc.

DALLAS, TX, Jan. 24, 2014 /CNW/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company") today announced that it will issue a total 708,333 common shares to settle various debts:

The Company has issued 333,333 common shares at an issue price of 15 cents per share to Iroquois Capital Opportunity Fund L.P. to reimburse $50,000.00 of expenses (as previously announced on November 1, 2013), has issued 75,000 common shares at an issue price of 20 cents per share in payment of $15,000 consulting fees to the Company's Land Manager (as previously announced on September 30, 2013), and will issue 300,000 common shares at an issue price of 10 cents per share in payment of $30,000 in consulting fees to Joseph F. Langston.

The issuances of common share are subject to the approval of the TSX Venture Exchange.

ABOUT GALE FORCE PETROLEUM INC. - www.GaleForcePetroleum.com

Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped oil and gas reserves in mature basins, bringing operational expertise and capital to lower-risk, development-type projects. The Company currently owns producing oil and gas properties in Texas, Tennessee and West Virginia.

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.


©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow

301 Arboretum Place, Richmond
VA, 23236

Telephone: 804.330.8888
Fax: 804.330.8881
Email: news@wric.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.