Resilient Resources says holders of all C$3.42 million convertibles agree to exchange

By Sheri Kasprzak

New York, Aug. 30 - Resilient Resources Ltd. said all of the holders of C$3.42 million of its convertible debentures have agreed to an exchange offer on the securities.

The company will exchange its C$1.97 million convertible debentures and its C$1.45 million convertible debentures into common shares at C$0.75 each.

First Associates Investments Inc. was the agent involved with the exchange transaction.

The remainder of Resilient's debentures, for C$1 million, will be redeemed for common stock at $0.75 each along with the closing of Resilient's C$2 million unit offering.

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

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