Rooster Energy PRBEQ

news out

[JamJam123]

CALGARY, ALBERTA--(Marketwired - March 24, 2017) - ROOSTER ENERGY LTD. (or the "Company") (www.roosterenergyltd.com) (TSX VENTURE:COQ) is pleased to announce that it has complied with terms of the Third Amendment (entered into March 10, 2017) to the Amended and Restated Note Purchase Agreement dated as of November 17, 2014, as amended and restated as of June 25, 2015 (the "NPA") with the holders of the senior secured notes (the "Notes") issued pursuant to the NPA. Specifically, a non-binding term sheet has been entered into with the holders this date setting forth the general terms of a potentially acceptable restructuring of the NPA. Additionally, as required by the terms of the Third Amendment, the Company has on this date paid the applicable interest due on the Notes that was due and payable on January 31, 2017 and February 28, 2017. Pursuant to the Third Amendment, the holders agreed to extend until March 24, 2017 the payment dates pending satisfaction of all other terms of the Third Amendment.

[westcoast1000]

Well, something seems to have happened, but the terms are completely opaque.  I wonder why this whole discussion is about this NPA, (note purchase agreement) rather than a financing agreement. I wonder who the counterparty is. I wonder why it all took so long and so much in terms of interest cost.

[JamJam123]

good new? may be morrison buying 

[Burnerman]

I was proven wrong.  It just looks like they performed the perfect magic trick. They figured out a way to bleed money from the company to rediuce taxable income therefore leaving the shareholders with an unprofitable company. I apologize to those who purchased on my posts. I myself purchased at .14. I sure hope no one here is near that. On the plus side......... they are not bankrupt... yet.

[JamJam123]

past is past question is what will happen now... without knowing the terms how do we know whether its good or bad

[Tetra99]

Don't apologize burner. Everybody needs to do their own due diligence. I've been in this one for over two years and like you paid up for it. 600,000 at 9.2 cents a share. $55000. Although not the end if I lose it, it still stings a little. Someone needs to realize that a few of us have extended ourselves to purchase this stock and deserve a little respect by keeping us informed. That may

[bechky3]

could you please explain.... don't know you're saying

[Burnerman]

Certainly.  I purchased this just after the amalgamation.  The talk back then was that this company could survive any storm and grow because of its diversity. I have watched it slowly deteriorate and for over a year on almost every release they used the "going concern " line driving the stock price lower each time. Now even after posting a profit on third quarter last year and

[bechky3]

good luck to you on Monday... lol

[Tetra99]

Hard to speculate with no information. That's why I don't give much creed to many posts I read. Hopefully there's a reason for today's activity. 

[Goldy63]

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