MELBOURNE, AUSTRALIA--(Marketwire - June 21, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Solimar Energy Limited (ASX:SGY)(TSX VENTURE:SXS) provides notice to the holders of outstanding debentures ("Debentureholders"), which were issued pursuant to the trust indenture dated February 10, 2012 (the "Indenture"), that the Corporation elects to satisfy its obligation to pay interest to Debentureholders on June 30, 2012 by issuing and delivering to such Debentureholders up to an aggregate of 1,343,961 common shares of the Corporation ("Common Shares") (subject to adjustment in accordance with the terms of the Indenture) being that number of Common Shares equal to the number obtained by dividing the amount of interest due and payable by C$0.0518 (being 90% of the volume weighted average price of the Common Shares on the TSX Venture Exchange for the 10 consecutive trading days ending on June 19, 2012).
John Begg, Chief Executive Officer
Solimar Energy Limited
ABN 42 112 256 649
+61 3 9347 2409
+61 3 9349 1186 (FAX)