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CALGARY, ALBERTA--(Marketwired - Aug. 12, 2014) - Parex Resources Inc. ("Parex" or the "Company") (TSX:PXT) announces that it is issuing a notice of redemption to holders of its currently outstanding C$82,875,000 5.25% Extendible Convertible Unsecured Subordinated Debentures due June 30, 2016 (the "Debentures"). As set out in the notice of redemption, Parex will redeem, as of September 25, 2014 ("Redemption Date"), all of the aggregate principal amount of the Debentures for cash. On the Redemption Date, Parex will pay the aggregate principal amount of the Debentures (being C$1,000 for each Debenture) plus all accrued and unpaid interest thereon to but excluding the Redemption Date (less any tax required to be deducted) (collectively, the "Redemption Price"). |
