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Core Resource Announces Convertible Note Offering
By: Marketwired .
Jan. 31, 2013 02:00 AM
DALLAS, TX -- (Marketwire) -- 01/31/13 -- Core Resource Management, Inc. (PINKSHEETS: CRMI), (www.coreresource.net), announces the closing of $2,850,000 of 7% Senior Convertible Notes. The Notes carry a fixed coupon for four years and are convertible at anytime prior to maturity at $3.00 par common share.
Brown Glenn Jr., Core's CEO, stated, "This represents the initial tranche in what we expect to raise for oil & gas acquisitions. Our strategy is to maximize shareholder value by minimizing the overhead costs between the shareholders of the company and the production cash flows of acquired reserves. We intend to file our Form 10 registration statement during the second quarter and apply to move our listing to the NYSE-AMEX within 48 months in order to give our shareholders and converting note holders maximum liquidity."
About the Company:
Forward Looking Statements:
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes and the shares of CRMI common stock issuable upon conversion of the Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration requirements
The information herein is subject to change without notice. Core Resource Management, Inc. shall not be liable for technical or editorial errors or omissions contained herein.
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