Niko issues 418,655 shares to convert $700,000 7% notes due 2014

By Toni Weeks

San Luis Obispo, Calif., May 20 - Niko Resources Ltd. said it received conversion notices on May 20 for $700,000 of its 7% senior unsecured notes due July 13, 2014, according to a press release.

The conversions will result in the issuance of 418,655 common shares.

Following the conversion, $2.8 million of the notes will remain outstanding.

Niko is an oil and natural gas exploration and production company in Calgary, Alta.

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