Fidelis Energy Announces Completion of Second Financing Tranche With Empres Voss Capital
Marketwire “Press Releases”
LOS ANGELES, CA — (MARKET WIRE) — 11/18/10 —
Fidelis Energy Inc. (PINKSHEETS: FDEI) today announced that the company has received $5 million from Empres Voss Capital (“EVC”) as partial payment for the company’s achievement of a milestone under the Securities Purchase Agreement dated January 19, 2010, as amended June 6, 2010. The milestone triggering this tranche was achieved in November, but the payment was only due by December 1, 2010. EVC is expected to deliver the remaining $5 million by the end of this month to complete this latest financing tranche.
“This latest financing should have us entering calendar year 2011 in great shape,” said company CEO and President James Poole. “With this latest tranche, Fidelis will have closed on $18 million of a committed $30 million in milestone-triggered financing. With cash in the bank, an improved balance sheet, and $12 million more in financing committed from the Empres Voss Capital, the company should be in an excellent position to pursue its development plans and goals.”
Shareholders and anyone interested in monitoring the progress of the company are encouraged to subscribe to the electronic mailing list at www.fidelisenergyinc.com.