*** ASKE NEWS OUT 5-10-2017 ***
Alaska Pacific Energy Corp Announces A Deal To Exchange Much Of Its Third Party Non Affiliated Debt Into Convertible Preferred Stock.
May 10, 2017
OTC Disclosure & News Service
Lake Worth, FL -
Alaska Pacific Energy Corp Announces A Deal To Exchange Much Of Its Third Party Non Affiliated Debt Into Convertible Preferred Stock.
May 10, 2017
OTC Disclosure & News Service
Lake Worth, FL -
Alaska Pacific Energy Corp Announces A Deal To Exchange Much Of Its Third Party Non Affiliated Debt Into Convertible Preferred Stock.
May 10, 2017
DEL RAY BEACH, Fl., May. 10, 2017
DEL RAY BEACH, Fl., May. 10th, 2017 /RSS FEED -- Alaska Pacific Energy Corp. (OTC PINK: ASKE) is pleased to announce that it has a reached a deal with all most of its third party non affiliated debt holders to exchange the notes for convertible preferred stock which is an equity instrument for the public company. The preferred shares do not allow its holders to simply self convert without an issuance resolution from management and this is important because the securities would otherwise classified as derivative liabilities. The opinion of management and it's outside consultants is that Alaska Pacific Energy Corp needs to build a strong balance sheet now that assets and equity are being contemplated in future acquisitions. The fact that our debt holders are prepared to exchange their notes for equity instruments is a tremendous step in the right direction.
Furthermore Alaska Pacific Energy Corp believes that its shareholders will be best served in seeing fundamental changes to the consolidated financial statements of the company. The company's expectation is to increase shareholder equity which management believes will embolden investor confidence.
The company will release more news and updates in the coming days and weeks as it directly relates to its consolidated financial statements and all such events related to the operations of Alaska Pacific Energy Corp.
FORWARD-LOOKING INFORMATION
Safe Harbor Statement:
This release may include "forward looking statements" within the meaning of Section 27 A of the Securities Act 1933 as amended, and Section 21 E and/or 27 E of the Securities Exchange Act of 1934, that are based on assumptions that in the future are inherently uncertain, may prove not to be accurate, and are subject to significant risks and uncertainties. These include, but are not limited to statements as to the future performance of the company, its ability to raise necessary financing, and other general economic risks and uncertainties
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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Copyright © 2017 OTC Markets. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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AI
