Engages Wedgewood Investment Group of New York, to prepare a $998 Million Asset Backed Secured Bond
New York, May 20, 2013 AEST (ABN Newswire) - Empire Energy Corporation International (
EEGC:OTCMKTS), 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.
Cautionary Note Regarding Forward-Looking Statements
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as expects, will, anticipates, estimates, believes, or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of Empire Energy with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Empire Energy Corporation International does not undertake any responsibility to update the "forward-looking" statements contained in this news release.
Contact
EMPIRE ENERGY CORPORATION INTERNATIONAL
Website: www.empireenergy.com
Media:
MARSTON WEBB INTERNATIONAL
270 Madison Avenue
New York, New York 10016
Phone: (212) 684-6601
Fax: (212) 725-4709
Email: marwebint@cs.com
http://www.marstonwebb.com
WEDGEWOOD INVSTMENT GROUP LLC
http://www.wedgewoodinc.com
Inquiries: info@wedgewoodinc.com
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