Trinity Completes Shares for Debt Settlement and Recieves Notice of Civil Claim
551 Howe St.-Suite 200 Vancouver, B.C. V6C 2C2 Tel : 888 909-5548 Fax : 888 909-1033
TSX Venture SYMBOL: TE (www.trinityvalleyenergy.com)
TRINITY COMPLETES SHARES FOR DEBT SETTLEMENT AND RECIEVES NOTICE OF CIVIL CLAIM
October 2, 2015, Trinity Valley Energy Corp. (TSX Venture-TE) (the “Company” or “Trinity”) announces it has completed the shares for debt transactions previously announced on September 23, 2015.
Pursuant to the shares for debt transaction, the Company has settled an aggregate of $200,000.00 in outstanding debt to non-arm’s length parties, through the issuance of 4,000,000 common shares at deemed prices of five cents per share. The shares issued in connection with the debt settlements are subject to a hold period of four months and a day expiring on January 31, 2016.
Finally, the Company was served with a Notice of Civil Claim filed by Anderson County Land Company (“Anderson County”), in the British Columbia Supreme Court. The claim relates to alleged amounts owing under the Farm In Agreement between the Company and Anderson County dated February 6, 2013. Anderson County is seeking US$58,506.57 plus interest (from and after July 1, 2015 at a rate of 13% per annum) and costs.
The Company intends to vigorously defend the action and reserves its right to pursue all legal rights and remedies available to it in connection with the proceedings.
ON BEHALF OF THE BOARD
“Michael Dake”
Michael Dake
President
FOR FURTHER INFORMATION PLEASE CONTACT: Trinity Valley Energy Corp.
(TEL)- (888) 909-5548, (FAX)-(888) 909-1033 Email: [email protected]: www.trinityvalleyenergy.com
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