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Perisson Debt Conversion Update
January 13, 2021 GMT
CALGARY, AB / ACCESSWIRE / January 13, 2021 / Perisson Petroleum Corporation (“Perisson” or the “Company”) (TSXV:POG) is pleased to update its shareholders concerning the planned conversion of outstanding debentures debt.
As previously announced, the Holders of the Company’s outstanding $3,000,000 and $4,000,000 in convertible debentures agreed to convert all outstanding principal, interest and penalties at conversion prices of $0.055 and $0.050, respectively, resulting in the retirement of all obligations totalling $11,360,977,28 from Perisson’s balance sheet at September 30, 2020, and the future issue of 216,498,212 common shares (the “Conversion Shares”) as and when requested by the Holders. Today the Company is issuing 10,000,000 Conversion Shares at the request of the Holders.