The American Energy Group, Ltd. Announces Loan Transaction
Filing Services Canada - Fri Jun 13, 5:30PM CDT
The American Energy Group, Ltd. (AEGG - OTCQB),announced today that it has entered into a loan transaction with an institutional investor for the borrowing of $300,000. The funds will be used solely for the required cost advance required by the International Chamber of Commerce (ICC) tribunal in connection with the scheduled June 16, 2014 arbitration final hearing in which the Company's claims against Hycarbex American Energy, Inc., Hycarbex Asia Pte. Ltd. and Hydro Tur (Energy) Ltd. will be adjudicated. The terms of the loan include a maturity date of August 5, 2015, an interest rate of 5.0% per annum and debt reduction payments prior to maturity only out of 25% of any proceeds of hydrocarbon production received by the Company, any ICC refunds, or any lump sum settlement payments from any participant. The loan is secured by a lien on the Company's non-producing Texas oil and gas interests. The loan also includes the issuance to the lender of 1.5 million warrants to purchase the Company's common stock at $0.20 per share for twenty four months.
The American Energy Group reports USD350,000 loan deal
M2 - Thu Feb 13, 7:21AM CST
US energy company The American Energy Group Ltd (Other OTC:AEGG) stated on Wednesday that it has signed a USD350,000 loan transaction with an institutional investor.