TOSCANA ENERGY REPORTS VOTING RESULTS OF EXTRAORDINARY MEETING OF DEBENTUREHOLDERS persuasive essay thesis watch easybus stratford stop go site example of formal essay about success sample introduction for thesis questionnaire write my essay for me cheap i dont want to write my paper enter site side effects of the drug viagra cialis ropesville cheap paper writers professional resume services online sample essays in apa format cialis commercials 2009 source url sound intelligent essay reflection paper sample cialis gordonville source link enter site ending a cover letter with thank you how o write an essay viagra und alkohol wirkung research papers on addiction FOR IMMEDIATE RELEASE


April 23, 2018 – Toscana Energy Income Corporation (“Toscana Energy” or the “Company”) (TSX: TEI) held itsextraordinary meeting (the “Meeting”) of holders (“Debentureholders”) of 6.75% convertible unsecured subordinated debentures of Toscana due June 30, 2018 (“Debentures”) on April 23, 2018 in Calgary, Alberta. An aggregate of $10,499,000 principal amount of Debentures, representing approximately 52.50% of the issued and outstanding Debentures, were represented in person or by proxy at the Meeting.


Toscana is pleased to report that the special resolution to amend the Debentures to:

a) extend the maturity date of the Debentures from June 30, 2018 to June 30, 2021;

b) increase the interest rate of the Debentures from 6.75% to 7.25% per annum effective June 30, 2018;

c) reduce the conversion price in effect for each common share in the capital of the Company (“Common Share”) to be issued upon the conversion of the Debentures from $19.70 per Common Share to $1.00 per Common Share;

d) permit the Company to redeem all or a part of the Debentures, upon notice as provided in the Indenture, at the redemption prices (expressed as percentages of principal amount set forth below, plus accrued and unpaid interest, if any, on the Debentures redeemed, to the applicable date of redemption, if redeemed during the 12-month period beginning on June 30 of the years indicated below:


Year Percentage
2018 103%
2019 102%
2020 100%


e) to make such other consequential amendments as required to give effect to the foregoing was approved as follows:

Votes For Votes Against
Number Percentage Number Percentage
9,390 89.44% 1,109 10.56%


The required approvals from the holders (“Shareholders”) of Common Shares were also received at the annual and special meeting of Shareholders on April 23, 2018. Toscana and Computershare Trust Company of Canada will finalize the supplemental indenture to implement the amendments to the Debentures, which will be effective as of June 30, 2018.


Current certificates representing Debentures remain valid as they are and are deemed to reflect the amended terms; however, should a Debentureholder wish to exchange such Debentureholder’s current certificate for a certificate containing the amended terms, please contact Computershare Trust Company of Canada at corporatetrust.calgary@computershare.comor (403) 267-6800.



About Toscana Energy Income Corporation


Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.


For further information, please contact:


Joseph S. Durante, Chief Executive Officer


Tel:      (403) 410-6793


Fax:      (403) 444-0090


Source: Toscana Energy Income Corporation