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Diaz Resources Restructures Debt Into Equity

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October 19, 2012

Diaz Resources Ltd. (Toronto Venture: DZR) announced a proposal to reorganize the company's capital structure and convert an aggregate of $15 million of debt into equity, eliminating approximately $1.58 million in annual interest payments.

If completed, management believes the share and debt reorganization will strengthen the company's balance sheet and better position Diaz to pursue financing or strategic alternatives that would facilitate the development of its asset base. In addition, as a consequence of continued challenging commodity prices and lower than expected production results, if the share and debt reorganization ...

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