Fecking stupid journalists7 Jun 2018 20:39
LONDON (Alliance News) - Frontera Resources Corp said Thursday it agreed with YA II PN Ltd to convert the remaining 2,891 series A shares into equity over 12 months.
The European focused oil and gas exploration and production company, said it entered into an agreement with YA II under which the entire amount of debt, provided to the Frontera by YA, was converted into equity.
Frontera issued to YA 7,200 Series A convertible redeemable shares in the company with redemption value of USD1,000 per share.
Following the last conversion on April 4, YA II now holds 2,891 shares with a redemption value of USD2.9 million, which will be redeemed over 12 months on a monthly basis.