Magnus Energy Announces Assignment of Senior Debt

From: CCNMatthews Newswire | Date: October 22, 2007 | Copyright information

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2007) - In connection with the proposed acquisition of Magnus Energy Inc. (TSX VENTURE:MEI.A) (TSX VENTURE:MEI.B) ("Magnus") by Questerre Energy Corporation ("Questerre"), Magnus and Questerre announce that Questerre acquired from the principal lender of Magnus, the senior secured debt of Magnus for cash at the face value of the debt in the approximate amount of $7.4 million. The debt bears interest at CIBC Prime plus 3% and is secured by a first prior...

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