Mal followed that later on with his $998 million "asset backed" bonds offering.
Ah the memories ...
New York, May 20, 2013 (ABN Newswire) - Empire Energy Corporation International (OTCMKTS:EEGC), announced today the engagement of Wedgewood Investment Group of New York effective May 16, 2013.
Wedgewood has been retained to prepare the documentation and filings to produce a secured, asset backed, 5 year Bond in the amount of Nine Hundred and Ninety Eight Million ($998,000,000.) dollars, bearing a 7% coupon. The asset being used to secure the Bond is identified in the Senergy, Competent Persons Report (CPR), a copy of which is available on Empire's website. The completed package will include; Due Diligence, Preparation of the PPM and Prospectus, Legal Review, Placement Agent appointment, the Filing of the 144A, Registration of ISN and CUSIP Numbers, Transfer Agent appointment and preparation of documentation for listing the Bond on an exchange.
Malcolm Bendall, CEO of Empire Energy stated; ""We have taken this route as part of our overall strategic plan to obtain the necessary additional funds to finally take our Tasmanian project to reality. We are pleased that the Asset Backed Bond is available to us as an alternative to trying to raise money through the public markets."
Under the terms of Wedgewood's engagement, the firm will be paid a retainer of $50,000.00 with the balance of $10,000.00 being paid on the delivery of the completed Bond package.
Where are you Walt? -
The Open Road goes to the used car lot.
AI
