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KNOXVILLE, TENNESSEE--(Marketwired - Dec. 16, 2014) - Xinergy Ltd. (TSX:XRG) (the "Company"), a Central Appalachian coal producer, announces that it has terminated both the Letter Agreement with Aries Energy Group, LLC and Credit Agreement with Aries Energy Venture Investor, LLC ("Aries"). The contemplated, and signed, proposed financing with Aries did not close. While the Company is and has been prepared to close the financing, Aries has failed to fulfill its obligations under the Credit Agreement, and fund the financing. |
