American International Petroleum Repays Remaining Balance of MG Trade Finance Note.NEW YORK--(BUSINESS WIRE)--Oct. 6, 1997--American International Petroleum Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AIPN AIPN Association of International Petroleum Negotiators AIPN Australian Injury Prevention Network AIPN Advanced Industrial Property Network (Japanese Patent Office) AIPN Asian Industrial Property Network ), today announced that it has made the final $2.1 million principal payment on its long-term note payable (the "Note") to MG Trade Finance Corp. ("MGTF"). The company also said that it has reached an agreement to settle its long-running environmental lawsuit against the refinery in Lake Charles, Louisiana
Lake Charles can also refer to Lake Charles, Nova Scotia a lake in the Halifax Regional Municipality, Nova Scotia Lake Charles for a $45,000 cash payment to the plaintiffs in the suit. As a result of these actions, MGTF will release its collateral mortgage on the company's Lake Charles Lake Charles, city (1990 pop. 70,580), seat of Calcasieu parish, SW La.; inc. 1867. It is located on Lake Charles at the mouth of the Calcasieu River in a rice, timber, oil, and natural gas region. refinery and return the shares of the company's wholly-owned subsidiary, AIRI AIRI Atomic Industry Research Institute , which it also held as collateral on the Note. In addition, it will return the one million shares of Mercantile International Petroleum Inc. common stock to the company, which MGTF was holding as additional collateral thereon. American International Petroleum Corp. is engaged in oil and natural gas exploration in Kazakstan and refining in Louisiana. CONTACT: Millennium Holdings Group, Inc. 561/988-2334 |
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