Cleanfield Amends Trust Indenture and Announces Share Issuance Approval
16 8월 2012 - 11:23PM
PR Newswire (Canada)
TORONTO, Aug. 17, 2012 /CNW/ - Further to its press release dated
September 15, 2010, Cleanfield Alternative Energy Inc.
("Cleanfield") announces that the trust indenture, dated July 31,
2008 and amended pursuant to a supplemental indenture dated August
24, 2010, entered into between Cleanfield, Cleanfield Energy Corp.,
the wholly-owned operating subsidiary of Cleanfield, and Olympia
Trust Company pertaining to the issuance of the $1.475 million
principal amount of 22% senior secured convertible redeemable
debentures, Series B (the "Series B Debentures") has been amended
pursuant to a second supplemental indenture dated August 10, 2012
(the " Second Supplemental Indenture"). Pursuant to the Second
Supplemental Indenture, the Series B Debentures have been amended
as follows: 1. the expiry date has been amended to July 31, 2013
from July 31, 2012 and August 15, 2012; 2. the Series B Debentures
are convertible into shares of Cleanfield at an exercise price of
$0.10 per unit until July 31, 2013 instead of $0.40; 3. the
exercise price of the warrants to be issued pursuant to the
conversion of the Series B Debentures has been amended to $0.10
instead of $0.30; Cleanfield has received the approval of the TSX
Venture Exchange for the amendments described herein and the
written consents from the registered holders of an aggregate of
$1,028,000 (or approximately 70% of the outstanding debentures) in
principal amount of Series B Debentures. For additional information
on the Series B Debentures, please refer to the July 31, 2008 and
September 15, 2010 media releases. Share Issuance Approval
Cleanfield also announces that, after receiving Exchange approval,
it issued 428,356 common shares at $0.20 per share to satisfy the
interest owing as of July 31, 2012 and payable in common shares of
Cleanfield relating to the Series B Debentures. All common
shares issued are subject to a four-month Exchange hold period
expiring December 14, 2012. About Cleanfield Alternative Energy:
Cleanfield is an innovative technology company focused on the
research, development and distribution of renewable energy
solutions for the urban environment. Forward Looking Statements:
Certain statements in this news release may be considered to be
forward-looking. These statements relate to future events or
Cleanfield's future results including revenues and reflect the
current assumptions and expectations of management. Unknown factors
may affect the events, performance, revenues and results of
operations described herein. Cleanfield undertakes no obligation,
and does not intend to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable laws. The
TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. Cleanfield Alternative Energy
Inc. CONTACT: Go to www.cleanfieldenergy.com, or contact Tony
Verrelli, CEO,Cleanfield 416 756-4890, info@cleanfieldenergy.com.
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