Zargon Oil & Gas Ltd.
Description
Zargon Oil & Gas Ltd. announces that 82.64% of holders of its 8% convertible unsecured subordinated debentures due December 31, 2019 voting at the extraordinary meeting of the debentureholders held today have voted in favour of an extraordinary resolution pursuant to which all of the debentures will be settled and all claims of the debentureholders thereunder will be extinguished in exchange for approximately 428,878,324 common shares in the capital of Zargon, including the payment, in the form of common shares, of the accrued and unpaid interest owing on the debentures.