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Back to Home » February 2011 News » CoreStream Energy Announces New Institutional Funding, Management Changes and Limited Update |
CoreStream Energy Announces New Institutional Funding, Management Changes and Limited Update |
February 22, 2011
FOUNTAIN VALLEY, CA--(Marketwire - February 21, 2011) - CoreStream Energy, Inc. (PINKSHEETS: ZLUS) is pleased to announce that it has received an initial multi-million dollar funding commitment from an institutional investor on a project by project basis. The funds will be used for investment in the acquisition of producing oil and gas wells and leases and to expand current production. This financial commitment is subject to the investor conducting its customary due diligence evaluations on each project. It is significant to note that the hedge fund making the commitment was a prior creditor and litigant of Zealous, Inc. Its financial decision demonstrates its confidence in the management, direction, and commitment of CoreStream Energy to oil and gas exploration, production and energy trading. It also shows that the Company's dedication for the last three years to work with its creditors and resolve debt issues can
Source URL: http://www.marketwire.com/mw/release.do?id=1399098&sourceType=3
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