Arctos extends maturity on 8% and 10% convertible debentures

By Sheri Kasprzak

Atlanta, May 5 - Arctos Petroleum Corp. said it has extended the maturity on its 8% secured convertible debentures and on its 10% convertible debentures.

The 8% debentures had been due March 11 but will be extended to Sept. 30, 2005. The 10% debentures were due March 15 but have been extended to Sept. 30, 2005 as well.

The principal amount due on the 8% debenture is $2,222,270, and interest accrued through March 11 will be added to the principal.

The 8% debenture is convertible into common shares at $0.50 each.

The 10% debentures are convertible into common shares at $0.50 each.

Based in Calgary, Alta., Arctos is an oil and gas exploration company.

On Thursday, the company's stock closed unchanged at $0.165.

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