PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / 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

 

NewswireToday - /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!


 

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

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today 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 Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Robert McIntosh 
1-888-803-SVSE (7873)
 
Newswire Today - PRZOOM / PRTODAY 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 Articles From ECON Corporate Services / InvestorIdeas.com™ / Company Profile


Read Energy Most Recent Related Newswires:

GE and Sarawak Energy Sign Multiyear Deal in Malaysia for Tanjung Kidurong Power Station, Bintulu
GE Hitachi Nuclear Energy and Bechtel Form Decommissioning Alliance
GE Equips New 1,320 MW CPHGC Power Plant to Help Pakistan Meet Growing Energy Needs
SolarWinds Empowers IT Professionals with the Ultimate Hybrid IT Performance Management Platform
Invenergy Closes Purchase Agreement for the La Jacinta Solar Farm in Uruguay
ENGIE Acquires EV-Box - The Largest European Electric Vehicle Charging Player
GE Renewable Energy to Showcase Expertise in Hydropower At Africa 2017 In Marrakesh, Morocco
GE Awarded Contract for First HA Gas Turbine in China
GE Power Signs Multiyear Agreement and First Cybersecurity Solution in Latin America
GE Hitachi Nuclear Energy and ARC Nuclear Announce Cooperation to Accelerate Commercialization of Advanced Small Modular Reactor
Shermco Industries Receives Gold Safety Recognition from the American Wind Energy Association
GE’s Fuel-Flexible Power Plant Brings Vital Energy Boost to Ghana
ENGIE Wins Nearly 78 MW of Photovoltaic Projects in France
Enel Launches Innovation Hub with UC Berkeley Accelerator in its First Partnership with A Major Multinational Corporation
ENGIE Welcomes the GE Water & Process Technologies Takeover by SUEZ

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  JobsWare.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | 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 entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)