The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Bengal Energy Announces Election by Insiders to Convert Convertible Notes

Monday, July 22, 2013

Bengal Energy Announces Election by Insiders to Convert Convertible Notes

08:00 EDT Monday, July 22, 2013

CALGARY, July 22, 2013 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal", or the "Company") is pleased to announce that certain insiders of the Company have elected to convert $1.5 million of short-term convertible notes (the "Convertible Notes"), into common shares ("Common Shares") of Bengal at an exercise price of $0.56 per Common Share.  The Convertible Notes were issued pursuant to a private placement of $3.5 million of both Convertible and non-convertible Notes (the "Notes"), of which insiders of the Company purchased approximately 85% of all Notes.

The Convertible Notes come due July 24, 2013, and insiders have elected to convert their $1.5 million of Convertible Notes into 2,678,392 free trading Common Shares.

About Bengal
Bengal Energy Ltd. is an international junior oil and gas exploration and production company based in Calgary, Alberta. The Company is committed to growing shareholder value through international exploration, production and acquisitions. Bengal trades on the TSX under the symbol BNG. Additional information is available at

SOURCE Bengal Energy Ltd.

For further information:

Bengal Energy Ltd.
Chayan Chakrabarty, President and CEO
Bryan Goudie, CFO
(403) 205-2526

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail App

    The New Globe and Mail App for iPhone®, iPad® and Apple Watch download

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Secure Service
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
Other Sections