02/28/2013
[ACCESSWIRE]
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces that further to its press release dated November 28th 2012, the Company has received conditional approval from the TSX Venture Exchange to proceed with a revised Share Purchase Agreement (the "SPA") with YA Global Master Fund SPV Ltd ("Yorkville"). No prospectus will be issued with the SPA and any shares will be issued pursuant to prospectus exemptions and subject to a four month hold period. A separate announcement will be made when the SPA is executed and the implementation shares are issued to Yorkville.
While the regulatory approvals were being finalised Yorkville has agreed on a temporary suspension of debt repayments on the $1 million loan drawn by the Company under a separate loan agreement entered into between the Company and Yorkville on May 16, 2012.
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas producing property located in British Columbia, Canada and has interest in gas exploration and appraisal developments in Crimea, Ukraine.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact: Darren Moulds, CFO, +1 403 705 1919
http://www.transeuroenergy.com
Yorkville Advisors LLC Brian Kinane +44 (0) 207 451 0009
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Axess accepts responsibility for the adequacy or accuracy of this release
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