| ||October 24, 2013|
Implementation Of Name Change And Share Consolidation
| ||Vancouver, British Columbia, October 24, 2013 - Gordon Creek Energy Inc. (TSX-V: GDN) (formerly Thunderbird Energy Corp. TSX-V: TBD) (the "Company") today announced that effective October 24 2013, the Company's name has been changed to Gordon Creek Energy Inc. and the common shares of the Company commenced trading on a consolidated basis on the TSX Venture Exchange under the symbol "GDN". The Company's series of natural gas linked debentures will continue to trade on the TSX Venture Exchange under the new symbol "GDN.DB". The name change and 15 for 1 share consolidation were approved by the shareholders at the Company's annual general meeting held June 12th, 2013. |
The Company is in the advanced stages of negotiating proposed amendments of the terms of its outstanding debentures, which amended terms will include an extension of the term of the debentures beyond the October 31, 2013 due date. The Company will be making the regular quarterly dividend payment in the normal course following the October 31, 2013 quarter end. These discussions are being held in conjunction with discussions with Sandstorm Metals & Energy Ltd (TSX-V: SND) with respect to the modification of the terms of the Company's current natural gas streaming agreement with Sandstorm. The objective of the amendments will be to strengthen the Company's balance sheet and facilitate raising additional third party capital to advance the development of the Gordon Creek natural gas project. The Company anticipates being in a position to provide a further update at the end of October.
Gordon Creek Energy is an oil and gas exploration and production Company with interests in the US Rockies.
For more information, contact:
Rick J. Ironside, P. Eng MBA
President and COO
800 - 555 4th Ave SW
Calgary, AB T2P 3E7
Chief Executive Officer
401 -- 533 Smithe Street
Vancouver, BC V6B 6H1
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward- looking information
Information in this news release respecting anticipated trading status of the Company's shares and Debentures, as well as any potential amendment or re-structuring of certain current debt and/ or contractual arrangements constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation.
Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
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