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Brookwater Enters Into Promissory Note
By: Marketwired .
Feb. 7, 2013 07:00 PM
CALGARY, ALBERTA -- (Marketwire) -- 02/08/13 -- Brookwater Ventures Inc. (TSX VENTURE:BW) reports that it has entered into an unsecured promissory note (the "Note") with a third party lender (the "Holder"), pursuant to which the Holder has agreed to lend to Brookwater CDN$100,000. Brookwater intends to use the proceeds of the Note for general working capital purposes.
The principal under the Note will incur interest at a rate of 13% per year and the Note shall mature on February 7, 2014 (the "Maturity Date"). At any time up until the Maturity Date the company shall have the right to re-pay the full outstanding principal under the Note at any time without penalty.
Brookwater Ventures Inc. is a Canadian independent oil exploration company focused on growing its asset base primarily in Brazil.
This news release contains forward-looking information relating to the Company's growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the Note or use of proceeds from the Note; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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