Calgary, Alberta – Silk Road Energy Inc. (TSXV: SLK) reports that it has received approval from the TSX Venture Exchange to have its shares reactivated as a Tier 2 Mining Issuer from a NEX Issuer.
Commencing Thursday, July 7, 2022, Silk Road shares will trade under the symbol “SLK” on the TSX Venture Exchange. Silk Road was cease-traded in 2019 and has been reorganizing its affairs on the NEX Exchange for the last two years.
Shareholders are not required to take any action regarding their shares as there will be no change in the CUSIP number on the shares.
In other news, Silk Road reports that it has entered into Term Loan in the amount of $125,000. The loan was issued by Trading Bay Oil & Gas, LLC, Anchorage, Alaska, a private energy company owned by Silk Road Director, Paul Craig. The loan bears an annual interest rate of eight percent and is due November 21, 2023.
Silk Road reports that its previously announced private placement remains open (see October 25, 2021 news release). The Unit Offering consists of one common share priced at $0.06 and a $0.12 warrant exercisable for twelve (12) months. The Company has been authorized the issuance of up to 11,666,666 common shares.