Gear Energy Ltd.

Gear Energy Ltd. is pleased to announce that it has received notice that the holder of $9.3 million of its outstanding 7.0% Convertible Unsecured Subordinated Debentures has elected to convert the Debentures at the conversion price of $0.32 per common share resulting in the issuance of 29.2 million common shares effective immediately. $3.4 million in Debentures remains outstanding. SOURCE Gear Energy Ltd. Contact [...]

Gear Energy Ltd. is pleased to announce that the new February 2021 monthly update can be accessed via the following link https://gearenergy.com/updates. Future updates will be disseminated each month via press release. SOURCE Gear Energy Ltd. Contact Ingram Gillmore, President & CEO, 403-538-8463, Email: info@gearenergy.com, Website: www.gearenergy.com; David Hwang, Vice President Finance & CFO, 403-538-8437...

Gear Energy Ltd. is pleased to announce that today it is issuing a notice of redemption to holders of its currently outstanding $12.7 million 7.0% Convertible Unsecured Subordinated Debentures due November 30, 2023 . As set out in the notice of redemption, the redemption date of the Debentures will be April 26, 2021 . The Debentures are redeemable for an amount equal to the principal amount of the Debentures plus accrued [...]

Gear Energy Ltd. is pleased to announce that its regular monthly update to shareholders is available on the Company's website at https://gearenergy.com/updates/. Since November of 2014 Gear has distributed a regular monthly update to shareholders via email that includes certain operational and financial information and regular insights from management on the Company and the industry in general. These updates are intended [...]

Gear Energy Ltd. is pleased to provide the following fourth quarter operating update and reserves summary to shareholders. Gear's Consolidated Financial Statements and related Management's Discussion and Analysis for the period ended December 31, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months ended Dec 31, 2020 Dec 31, 2019 Sep [...]

Gear Energy Ltd. is pleased to announce that its Board of Directors have approved a $20 million capital budget for 2021 targeting stabilized production and continued improvement of the strong balance sheet. Gear is also pleased to announce that the lenders under Gear's syndicated credit facilities have completed the most recent borrowing base redetermination with the combined total capacity essentially unchanged at $70 [...]

Gear Energy Ltd. is pleased to announce that Gear shareholders have approved the amendments to Gear's outstanding convertible unsecured subordinated debentures at a special meeting of shareholders held today. The amendments were approved by shareholders holding in excess of 97% of the Gear common shares who voted in person or by proxy at the Meeting. There is presently approximately $13.2 million principal amount [...]

Gear Energy Ltd. announces an extension to the scheduled date for its semi-annual borrowing base redetermination from November 30, 2020 to December 18, 2020. Gear's syndicated credit facilities currently consist of available credit facilities of $70 million with the semi-annual redetermination due on or before November 30, 2020. Gear and its banking syndicate have agreed to extend the date for completion of the [...]

CALGARY, AB, Nov. 4, 2020 /CNW/ - Gear Energy Ltd. is pleased to provide the following third quarter operating update to shareholders. Gear's Interim Condensed Consolidated Financial Statements and related Management's Discussion and Analysis for the period ended September 30, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Nine months ended [...]

Gear Energy Ltd. is pleased to announce that the beneficial holders of in excess of 66 2/3% of its outstanding $13,185,000 aggregate principal amount of convertible unsecured subordinated debentures have agreed to certain amendments to the Debentures. The proposed amendments to the Debentures, include, among other things: extending the maturity date of the Debentures from November 30, 2020 to November 30, 2023 ; an [...]