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Gale Force Petroleum Issues Shares To Clear Debts

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January 27, 2014

Gale Force Petroleum Inc. (TSXV: GFP.V) issued 708,333 common shares to settle various debts, the company said Jan. 24. 

In order to reimburse CA $50 million, Gale Force had issued 333,333 common shares, at 15 cents each, to Iroquois Capital Opportunity Fund LP, the company said, noting that original Nov. 1, 2013 announcement.

Gale Force also issued 75,000 shares, at 20 cents each, in payment of CA $15,000 in consulting fees to Iroquois Capital’s land manager, the company added, also noting that original Sept. 30, 2013 announcement.

The company will ...

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