| Home : September 2011 : September 15, 2011 News : Genoil Inc. Announces Closing of Shares for Debt Transaction |
Genoil Inc. Announces Closing of Shares for Debt Transaction |
September 15, 2011
CALGARY, ALBERTA--(Marketwire - Sept. 14, 2011) - Genoil (TSX VENTURE:GNO)(OTCBB:GNOLF) has completed two shares for debt transactions to satisfy amounts outstanding to certain lenders (the "Creditors") of the Corporation. The common shares and common share purchase warrants ("Creditor Warrants") were issued pursuant to debt cancellation agreements between the Corporation and the Creditors, whereby each of the Creditors agreed to forgive and cancel debts currently owing to such Creditor by the Corporation.
http://www.marketwire.com/mw/release.do?id=1561261&sourceType=3
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