VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 09/09/11 — Opal Energy Corp. (the “Company”) (TSX VENTURE: OPA) announces that it has secured debt financing of CDN$100,000, from an arm–s length party, which will be expended on project investment and development and for general working capital purposes. The loan will be for a term of one year and bears interest at the rate of 10% per annum, calculated and compounded annually and paid quarterly. As an inducement to grant the loan, the Company will issue to the lender 95,238 voting common shares of the Company which is equal to 20% of the principal amount of the loan at a deemed price of CDN$0.21 per share. The shares will be subject to a hold period expiring four months and one day after the date of issuance. The loan is subject to regulatory approval.
Opal Energy Corp.
Opal Energy Corp. is an independent oil and gas exploration and production company based in Vancouver, B.C.
On behalf of the Board of Directors
Opal Energy Corp.
David Hughes, CFO and Director
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future events or developments that Opal expects are forward-looking statements. Although Opal believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Opal does not assume a duty to update these forward-looking statements. For more information on Opal, Investors should review Opal–s filings that are available at .
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.
Contacts:
Opal Energy Corp.
David Hughes
(604) 639-4454