/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES./
CALGARY, Jan.12, 2015 /CNW/ – 3MV Energy Corp. (“3MV” or the “Company“) (TSXV: TMV) is pleased to announce that it has issued 248,421 shares of the Company to Audax Investments Ltd (“Audax“) in relation to interest payable quarterly on the $2MM secured draw down facility term loan. The debt facility bears interest at eight percent (8%) per annum, calculated and payable quarterly at the greater of the volume weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date.
In addition the Company is pleased to announce that it has issued 175,685 shares of the Company to Invico Diversified Income Limited Partnership (“Invico“) in relation to interest payable quarterly on the $6MM drawdown on its secured loan facility. The loan facility allows up to 3% of interest payable by way of quarterly share issuance at the greater of the volume weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date.
Following this issuance, there will be 55,408,601 common shares of the Company issued and outstanding. The issuance of the common shares will not result in a change of control.
Audax is a corporation controlled by Dallas Duce, Interim CEO, a director and control person of 3MV.
3MV is an oil and gas exploration and development company with assets throughout west central Saskatchewan’s Viking oil play.
Neither 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.
SOURCE 3MV Energy Inc.
For further information: Dallas Duce, Interim CEO, (403) 234-8998; Billy Abbey, CFO, VP Finance, (403) 234-8998