Calgary, Canada / ACCESSWIRE / July 2 2014 / Transeuro Energy Corp. (“Transeuro” or the “Company”) announces that the Company has, through the Nordic Trustee issued a summons to bondholders holding the Senior Secured Convertible Bond Issue 2012/2015. The summons includes a standstill proposal that allows the Company time to conclude specific transactions related to the Company’s assets and to receive payment from these transactions. The funds received should allow the Company to make the interest payment on the bond that was due on 22nd May 2014 and other payments required to resume share trading on the TSX-V and OSE. Confidentiality terms associated with the specific transactions prevent the Company from announcing any additional information at this time. The bondholder meeting will be scheduled for 16th July 2014.
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas property located in British Columbia, Canada, has interest in gas exploration and appraisal developments in Crimea, Ukraine and has an oilfield redevelopment project in Jordan.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact: Darren Moulds, IR, +1 403 705 1919
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Axess accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
SOURCE: Transeuro Energy Corp.