Oil and Gas Investing News » Radius Files Notice of Intention to Make a Proposal to Creditors

Radius Files Notice of Intention to Make a Proposal to Creditors

February 26, 2010 @ 9:53 pm In Oil & Gas Company News

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 ^[1]

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[1] Click here to access the entire press release: http://www.marketwire.com/press-release/Radius-Files-Notice-of-Intention-to-Make-a-Proposal-to-Creditors-TSX-VENTURE-RAX-1122888.htm