Corridor Resources Inc.

Corridor Resources Inc.

October 24, 2005 11:15 ET

Corridor Announces Conversion of Notes

HALIFAX, NOVA SCOTIA--(CCNMatthews - Oct. 24, 2005) - Corridor Resources Inc. (TSX VENTURE:CDH) announced today that holders of 99.7% of Corridor's $3,000,000 convertible notes have chosen to convert their notes into common shares at the conversion price of $1.60 per share. The remaining $9,000 principal amount of the notes has been redeemed. The conversion has resulted in the issuance of 1,869,372 common shares. As a result of the conversion of the substantial majority of the notes, the $3,000,000 that had been segregated will be available for further drilling and fracing activities at the McCully field in New Brunswick.

Corridor is a junior oil and gas exploration and production company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward island and Quebec, and offshore in the Gulf of St. Lawrence.

"Statements in this Press Release may constitute forward-looking statements. Such forward-looking statements include risks, uncertainties and other factors which may cause actual results, performance or achievements of Corridor to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Corridor does not undertake to update any of such forward-looking statement."
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Corridor Resources Inc.
    Norman W. Miller
    (902) 429-4511
    (902) 429-0209 (FAX)