Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/galileo-to-undertake-a-combination-of-cash-and-sha.shtmlGalileo to undertake a combination of cash and shares for debt settlement
Galileo Petroleum Ltd. plan to undertake a combination of cash and shares for debt settlement arrangement to retire
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Galileo Petroleum Ltd. plan to undertake a combination of cash and shares for debt settlement arrangement to retire indebtedness in the aggregate amount of $64,706 to a certain creditor of the Company.
The creditor has agreed to accept payment in full and final of the $64,706 on or before August 18, 2014 as follows: a) the sum of $19,412 and b) 905,890 common shares of the Company at an issue price of $0.05 per share.
The issuance of the common shares is subject to the approval of the TSX Venture Exchange.
