Eagle Energy Inc. Announces Demand by Lenders and Notice of Intention to Enforce Security
November 18 2019 - 9:42AM
PR Newswire (Canada)
CALGARY, Nov. 18, 2019 /CNW/ - (TSX Venture Exchange:
EGL): Eagle Energy Inc. ("Eagle") announces that its secured
lenders have made demand for payment in full of Eagle's outstanding
indebtedness and have provided Eagle with a Notice of Intention to
Enforce Security pursuant to subsection 244(1) of the Bankruptcy
and Insolvency Act (Canada)
(the "BIA"). Eagle's lenders intend to seek a receivership
court order on Tuesday, November 19,
2019 to place Eagle in receivership. Eagle has waived the
notice period provided under subsection 244(2) of the BIA and
consented to the immediate enforcement of the security. Eagle's
directors have indicated their intention to resign following the
approval of the receivership court order.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Eagle Energy Inc.
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