Iona Energy Inc.
TSX VENTURE : INA

Iona Energy Inc.

March 27, 2015 09:49 ET

Iona Energy Inc.: Result of Bondholder Meeting

CALGARY, ALBERTA--(Marketwired - March 27, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA), a Canadian independent oil and gas company with assets in the UK North Sea is pleased to announce that all amendments to its bond agreement, proposed to bondholders at the bondholder meeting earlier today, have been approved.

On September 27, 2013, Iona, via its UK subsidiary, Iona Energy Company (UK) plc (the "Issuer"), issued US$275 million in senior secured bonds. On March 12, 2015, the Issuer published a summons (the "Summons") to a bondholder meeting proposing to the bondholders a range of amendments to its bond agreement.

Today at a meeting of bondholders, motions have been passed to approve all the amendments and appoint advisers to the Bond Trustee in accordance with the proposals made by the Issuer in the Summons.

Notes

The full details of the proposed amendments can be found in the Summons which is available on the Company's website at www.ionaenergy.com. To assist reading of this document the Company has also published a short presentation on its website at which summarizes the main points of the measures in the Summons.

Additional information relating to the Company is available on SEDAR at www.sedar.com.

Camarco is a financial public relations group assisting the Company with this press release.

About Iona Energy:

Iona is an oil and gas company with assets in the United Kingdom's North Sea.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Iona Energy Inc.
    Tom Reynolds
    CEO
    +44 (0) 1224 228400

    Iona Energy Inc.
    Robert Gair
    CFO
    +44 (0) 1224 228400
    info@ionaenergy.com

    Camarco
    Billy Clegg
    +44 (0) 20 3757 4980

    Camarco
    Georgia Mann
    +44 (0) 20 3757 4980