Twoco Petroleums Ltd. Announces Equity Financing, Debenture Exchange Plan and Credit Facility Update

- August 2nd, 2010

Twoco Petroleums Ltd.(TSX VENTURE:TWO) announced an equity financing of up to $6,000,000 and that it will take steps to enter into agreements with the holders of its outstanding unsecured 17% debentures to exchange such debentures for common shares of the Company.

Twoco Petroleums Ltd.(TSX VENTURE:TWO) announced an equity financing of up to $6,000,000 and that it will take steps to enter into agreements with the holders of its outstanding unsecured 17% debentures to exchange such debentures for common shares of the Company.

The press release is quoted as saying:

Twoco is pleased to announce that it has filed a preliminary prospectus in connection with a short form prospectus offering in British Columbia, Alberta and Ontario (the “Offering”) of up to $2,000,000 of units of the Company (“Units”) at a price of $0.23 per Unit and up to $4,000,000 of flow-through units of the Company (“Flow-Through Units”) at a price of $0.25 per Flow-Through Unit to raise minimum gross proceeds of $3,000,000 (the “Minimum Offering”) and maximum gross proceeds of $6,000,000.

Click here to access the entire press release

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