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HOUSTON, TEXAS--(Marketwired - April 12, 2016) - Greenfields Petroleum Corporation (the "Company" or "Greenfields") (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB) is pleased to announce that it has entered into a definitive agreement ("Definitive Agreement") with Heaney Assets Corp. ("Heaney") to settle all amounts outstanding under the Subordinated Revolving Loan Agreement (the "Loan Agreement") dated June 27, 2014, as amended, with an original maturity date of June 30, 2018. Under the terms of the Definitive Agreement, Greenfields will issue 11,500,000 common shares of the Company ("Common Shares") to Heaney in full satisfaction of all amounts outstanding under the Loan Agreement, including principal in the amount of USD$20,834,705 and accrued interest. |
