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Sintana Energy Inc. (“Sintana” or the “Company”) (TSXV: SEI) is pleased to announce that it has received a partial notice of conversion (the “Notice”) in respect of its senior convertible debenture in the principal amount of Cdn$650,000 issued on July 24, 2018 (the “Debenture”). The Debenture has a term of five years and an annual interest rate of 8%, and the principal amount thereof may be converted into common shares of the Company at the option of the holder at a conversion price of Cdn$0.07 per share during the first year following closing (the “Initial Conversion Price”) and Cdn$0.10 thereafter. Interest is also convertible under the Debenture at the election of the holder, subject to the approval of the TSX Venture Exchange (“TSXV”). The Notice has provided for conversion of (i) Cdn$550,000 of the principal amount of the Debenture at the Initial Conversion Price; and (ii) Cdn$42,874 of interest owing under the Debenture at a conversion price of $0.075 per share. Conversion of the interest remains subject to the approval of the TSXV.
On behalf of Sintana Energy Inc.,
“Douglas G. Manner”
Chief Executive Officer
For additional information or to sign-up to receive periodic updates about Sintana’s Colombia projects, and ongoing corporate activities, please visit the company’s website at www.sintanaenergy.com