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| Home : Portex Minerals Inc. Debt for Equity Exchange |
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Dec 20
2014 |
Portex Minerals Inc. Debt for Equity Exchange |
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TORONTO, ONTARIO--(Marketwired - Dec. 19, 2014) - Portex Minerals Inc. ("Portex" or the "Company") (CSE:PAX) announces that it is seeking consent of creditors to convert substantially all the outstanding debt of the Company and its subsidiaries into common shares by issuing 100 Common Shares of the Company, based on a share price of $0.01, for each $1 of debt owing (the "Reorganization"). The conversion rate was determined between the Company and certain of the creditors based on the current value and financial position of the Company. |
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| Source:http://www.marketwired.com/mw/release.do?id=1978558&sourceType=3 |
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