Free press releases distribution network?

More news: Energy
Agency / Source: ECON Corporate Services / InvestorIdeas.com™

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Silver Star Cancels Financing Agreement With Cornell Capital - Silver Star Energy, Inc. (OTCBB: SVSE) today announces that the Company has cancelled the financing agreement with Cornell Capital Partners, LP
Silver Star Cancels Financing Agreement With Cornell Capital

 

PRZOOM - /newswire/ - Los Angeles, CA, United States, 2005/05/24 - Silver Star Energy, Inc. (OTCBB: SVSE) today announces that the Company has cancelled the financing agreement with Cornell Capital Partners, LP.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Silver Star has received from Cornell one half of a secured $1.5 million bridge loan totaling $750,000 in December 2004. This loan was provided as part of a convertible debenture that could be paid back in cash or converted to stock.

Silver Star has informed Cornell of its intention to repay the loan in cash with interest and penalty as opposed to converting to common shares. This action will prevent any further dilution to the current issued and outstanding shares. The cash payback will occur from proceeds of cash flow from Silver Star's North Franklin and Joarcam projects.

In addition, Silver Star will not be proceeding with the Standby Equity Distribution Agreement ("SEDA") that committed Cornell to provide up to an additional $10 million of funding to Silver Star over a 24-month period.

Silver Star has alternative financing committed to replace the Cornell funds and will access it when required funds for development exceed cash on hand from production revenue.

ABOUT SILVER STAR ENERGY, INC.

The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.

Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.

ON BEHALF OF THE BOARD
Silver Star Energy, Inc.
Robert McIntosh-President

SOURCE: Silver Star Energy, Inc.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: ECON Corporate Services / InvestorIdeas.com™

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Silver Star Cancels Financing Agreement With Cornell Capital

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Robert McIntosh 
1-888-803-SVSE (7873)
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ECON Corporate Services / InvestorIdeas.com™ securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From ECON Corporate Services / InvestorIdeas.com™ / Company Profile


Read Energy Most Recent Related Press Releases:

ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  BizJobs.com

Visit  Triggr & Bloom

Visit  NAKIVO, Inc.







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today