Prospect Global Resources revises terms of two of its promissory notes

Senior unsecured promissory notes' maturity extended to May 16, 2014

By Devika Patel

Knoxville, Tenn., May 13 - Prospect Global Resources Inc. amended the terms of two senior unsecured promissory notes on May 9, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company and investors agreed to extend the date by which the company must repay the debt to May 16, 2014.

In connection with the extension, the investors received common shares with a value of 17% of the notes' outstanding principal.

Based in Denver, Prospect Global is a resource exploration company.

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