Toronto, Ontario–(Newsfile Corp. – July 25, 2017) – Advantagewon Oil Corp. (CSE: AOC) (the “Corporation”, “Advantagewon”) announced today that all Debenture Holders of the Corporation’s Debentures have unanimously agreed to convert their Debentures into common shares of the Corporation at a conversion price of Fifteen Cents (“$0.15”) CDN per common share.
In total, and effective immediately, Four Hundred and Fifty-Five Thousand, Two Hundred and Fifty Dollars (“$455,250.00”) CDN worth of Debentures will be converted into Three Million and Thirty-Five Thousand (“3,035,000”) common shares. The completion of this transaction has eliminated all Debentures previously recorded on the Corporation’s balance sheet.
All common shares issued in this conversion transaction are subject to a four month and one day hold period from the date of conversion under applicable Canadian securities laws. Proceeds from the Debentures were originally utilized by the Corporation for general working capital purposes.
About Advantagewon Oil Corp.
Advantagewon Oil Corp., is a Toronto-based Oil Company with a focus on development opportunities in the State of Texas. Advantagewon currently owns two properties in the State of Texas: the Saratoga property located in Hardin County, Texas; and the LaVernia property located in Guadalupe County, Texas.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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