Twoco Petroleums Ltd.
TSX VENTURE : TWO

Twoco Petroleums Ltd.

April 04, 2011 21:00 ET

Steelhead Investments Acquires Ownership Interest in Twoco Petroleums Ltd.

CALGARY, ALBERTA--(Marketwire - April 4, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Steelhead Investments Ltd. announces that, as a result of participation in the private placement of redeemable, convertible, unsecured 8% debentures ("Convertible Debentures") of Twoco Petroleums Ltd. ("Twoco") (TSX VENTURE:TWO), it has acquired, through its subsidiary Trotter and Morton Limited, the principal amount of $3,000,000 of Convertible Debentures. At any time prior to the December 31, 2012, at the option of the holder, the Convertible Debentures shall be convertible into common shares of the Corporation ("Common Shares") at a conversion price of $0.324 per share. Steelhead Investments Ltd. now owns, directly or indirectly, or exercises control over 4,587,000 Common Shares representing approximately 7.8% of the issued and outstanding Common Shares and no other securities of Twoco except for the $3,000,000 principal amount of Convertible Debentures.

Steelhead Investments Ltd. acquired the Convertible Debentures for investment purposes and may, from time to time on an individual or joint basis, acquire additional securities of Twoco, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONNECTION WITH THIS MATTER, PLEASE CONTACT MR. DUNCAN MOODIE.

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

Contact Information

  • Steelhead Investments Ltd.
    Mr. Duncan Moodie
    (403) 255-7535
    or
    Steelhead Investments Ltd.
    5711, 1st Street S.E.
    Calgary, AB T2H 1H9