Radius Files Notice of Intention to Make a Proposal to Creditors
Radius Resources Corp. (TSX VENTURE:RAX) reported that the company has filed a notice of intention to make a proposal to creditors under the Bankruptcy and Insolvency Act on February 23, 2010.
The press release is quoted as saying:
The filing of the NOI is a step taken by Radius in preparation for the filing of a proposal under the BIA to effect a restructuring process to be undertaken as part of a proposed business combination with Argosy Energy Inc. previously announced on December 8, 2009.
Click here to access the entire press release
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Fri, Feb 26, 2010
Post by Melissa Pistilli, Oil and Gas Senior Reporter