Advantagewon Oil Announces $975,000 Promissory Note to Starvolt
Toronto, Ontario--(Newsfile Corp. - June 24, 2021) - Advantagewon Oil Corp. (CSE: AOC) (OTC Pink: ANTGF) ("Advantagewon") is pleased to announce that today, in furtherance to their acquisition of a minority interest in Starvolt Power Inc. ("Starvolt"), Advantagewon has advanced $975,000, pursuant to the terms of a promissory note (the "Promissory Note"). The Promissory Note bears interest at five percent (5%) per annum and the principal and interest are due and payable at maturity on June 22, 2023.
Amounts of principal and interest that are past due by Starvolt under the Promissory Note will bear interest at a rate of five percent (5%) per annum, payable on demand from the date of such non-payment until such amount is paid in full.
About Advantagewon Oil Corp.
Advantagewon is focused on becoming a diverse energy producer. Advantagewon currently has silos in oil, gas and solar. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange (the "CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE: AOC). For more information, please visit www.aoc-oil.com.
For further information please contact:
Mr. Paul Haber
Advantagewon Oil Corp.
T: (416) 318-6501
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp
T: (647) 466-4037
The CSE has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains statements which constitute "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Advantagewon with respect to future business activities. Forward‐looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and negatives thereof. Forward-looking information contained in this press release includes information regarding: (i) statements regarding the future direction of Advantagewon; (ii) Starvolt having the necessary funds to meet the terms of the Promissory Note; (iii) the ability of Starvolt to pay the applicable interest of five (5%) per annum; (iv) the maturity date of the loan; and (v) expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐looking information is not based on historical facts but instead reflect Advantagewon's management's expectations, estimates or projections concerning the business of its future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made.
Although Advantagewon believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results and performance. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: (i) the financial inability of Starvolt to pay the full amount of the Promissory Note, including the applicable interest at the date of maturity and/or on demand; (ii) inability of Advantagewon to recover the full amount of the Promissory Note; (iii) changes in general economic, business and political conditions, including changes in the financial markets; (iv) adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; (v) compliance with extensive government regulation and related costs; and (vi) other risks described in Advantagewon's public disclosure documents filed on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Advantagewon has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Advanatagewon does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88605