Vecta Energy Corporation

October 01, 2010 13:26 ET

Vecta Energy Corporation Issues Shares for Debt

CALGARY, ALBERTA--(Marketwire - Oct. 1, 2010) - Vecta Energy Corporation ("Vecta") (TSX VENTURE:VER) announced that it has issued 1,400,000 common shares to Rembrandt Resources Ltd in satisfaction of accounting fees owing to its principle, who is Vecta's Controller. The liability accumulated over a 14 month period as a result of the Company's 2009 cash conserving actions that significantly reduced cash compensation. The shares must be issued at a minimum of $0.05 each under TSXV regulations. Vecta's shares have traded at an average of $0.016 over the past month and the last trade was $0.02. This issue of shares is subject to approval by the TSX Venture Exchange.

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