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| Home : Genoil Inc. Announces Extension of Term of Notes and Warrants |
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Nov 03
2010 |
Genoil Inc. Announces Extension of Term of Notes and Warrants |
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CALGARY, ALBERTA--(Marketwire - Nov. 3, 2010) - Genoil Inc. (the "Corporation") (TSX VENTURE:GNO)(OTCBB:GNOLF) has agreed to the extension of the term of an aggregate $1,544,543.82 principal amount of convertible notes (the "Notes") and an aggregate 1,136,442 common share purchase warrants (the "Warrants") which were previously issued. The Notes and Warrants were originally issued to a group of four investors in October, 2008 which included Lifschultz Enterprises Co., LLC ("Enterprises"), Sidney B. Lifschultz 1992 Family Trust (the "Trust") and David K. Lifschultz, having a conversion price equal to $0.27 in respect of the Notes, and an exercise price of $0.41 in respect of the Warrants. The Notes and Warrants had an original term expiring on October 6, 2009, which had been amended and extended to October 6, 2 |
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| Source:http://www.marketwire.com/mw/release.do?id=1346782&sourceType=3 |
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