Global X Gold Yield ETF T.HGY

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[thedave]

Finance Home - Yahoo! - Help -------------------------------------------------------------------------------- [ Latest Headlines | Market Overview | News Alerts ] -------------------------------------------------------------------------------- Datek Online. Apply NowRelated Quotes HGY.TO 1.60 +0.00 delayed 20 mins - disclaimer Monday April 23, 1:45 pm Eastern Time Press Release Hornet Energy Ltd. Exercises its Right to Convert Outstanding Debenture to Common Shares. CALGARY, ALBERTA--Hornet Energy Ltd. (the ``Company'') announces that it has exercised its right to convert to common shares the 10% Convertible Debenture (the ``Debenture'') issued to Indeck Energy Services Inc. (``Indeck'') of Chicago, Illinois, U.S.A. The effective date of the conversion will be April 12, 2001. The Debenture, for $1,800,000, was issued on February 29, 2000 under private placement to Indeck, an existing shareholder of the Company. Under the terms of the Debenture, the Company could force its conversion to common shares if, at any time after September 1, 2000, the weighted average price per share for the previous 30 consecutive trading days was greater than 125% of the conversion price of $0.83. Conversion of the debenture, which was included in the Company's TSE listing statement dated January 12, 2001, has been anticipated in the Company's 2001 forecasts and the 2,168,675 additional shares to be issued have been included in the calculation of all fully diluted per share figures. Annual interest payments of $180,000 under the Debenture will cease upon conversion. Upon conversion of the Debenture, the Company will have 14,556,985 basic (16,002,985 fully diluted) shares outstanding with Indeck owning 16.6% of the basic shares. Hornet Energy Ltd. is a Canadian owned oil and gas exploration and production company based in Calgary. The Company's common shares are listed on The Toronto Stock Exchange under the symbol ``HGY''. -------------------------------------------------------------------------------- Contact: Hornet Energy Ltd. Randall J. Green President [phone] E-mail: [e-mail] or Hornet Energy Ltd. Alvin Schacter Vice President Finance [phone] [phone] E-mail: [e-mail] E-mail: [e-mail] Email this story - Most-emailed articles - Most-viewed articles -------------------------------------------------------------------------------- More Quotes and News: HNEGF - news Hornet Energy Ltd (Toronto:HGY.TO - news) Related News Categories: oil/energy -------------------------------------------------------------------------------- Help -------------------------------------------------------------------------------- Copyright © 2001 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service Copyright © 2001 Canadian Corp News. CCN Newswire All rights reserved. All news releases provided by CCN Newswire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form. Questions or Comments?

[tuber]

That is the reason we went down .

[TheRed]

that apparently drove the stock down. You mean some investors thought the stock was being diluted when it wasn't being diluted? I thought junior oil&gas investors would be more sophisticated than that or is it me that missed something in the fine print? -The Red