Calgary, Alberta - July 5, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Silk Road Energy Inc. (TSXV: SLK) reports that it has received approval from the TSX Venture Exchange to have its shares reactivated as a Tier 2 Mining Issuer from a NEX Issuer.
Commencing Thursday, July 7, 2022, Silk Road shares will trade under the symbol "SLK" on the TSX Venture Exchange. Silk Road was cease-traded in 2019 and has been reorganizing its affairs on the NEX Exchange for the last two years.
Shareholders are not required to take any action regarding their shares as there will be no change in the CUSIP number on the shares.
In other news, Silk Road reports that it has entered into Term Loan in the amount of $125,000. The loan was issued by Trading Bay Oil & Gas, LLC, Anchorage, Alaska, a private energy company owned by Silk Road Director, Paul Craig. The loan bears an annual interest rate of eight percent and is due November 21, 2023.
Silk Road reports that its previously announced private placement remains open (see October 25, 2021 news release). The Unit Offering consists of one common share priced at $0.06 and a $0.12 warrant exercisable for twelve (12) months. The Company has been authorized the issuance of up to 11,666,666 common shares.
For more information please contact:
Michael C. Judson, Director,
Silk Road Energy Inc.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
Neither the TSX Venture Exchange, including the NEX Board, nor the Canadian Securities Exchange have approved nor disapproved the contents of this news release.
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