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| Home : Changfeng Announces That it is Not Proceeding With the Previously Announced Loan Discharge Transaction |
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Jan 13
2016 |
Changfeng Announces That it is Not Proceeding With the Previously Announced Loan Discharge Transaction |
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TORONTO, ONTARIO--(Marketwired - Jan. 12, 2016) - Further to the press release of Changfeng Energy Inc. ("Changfeng" or the "Company") (TSX VENTURE:CFY) dated December 4, 2015, Changfeng today announced that its Board of Directors has determined not to proceed at this time with the previously announced loan discharge transaction pursuant to which approximately $8 million (RMB 40 million) of indebtedness of its subsidiary Sanya Changfeng Offshore Natural Gas Supply Co., owed to certain related parties, was to be discharged in exchange for the issuance of preferred shares of the Corporation (the "Transaction"). |
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| Source:http://www.marketwired.com/mw/release.do?id=2087552&sourceType=3 |
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