American International Petroleum makes announcement.NEW YORK--(BUSINESS WIRE)--Feb. 4, 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 ), announced today that it has extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the Class A Warrants, included in its 1994 Rights Offering, which are publicly traded on NASDAQ/NMS under the symbol "AIPNW AIPNW American Indians of the Pacific Northwest ," to March 1, 1998. The Warrants, which were scheduled to expire on March 1, 1997, entitle the holder to purchase one share of the Company's Common Stock at an exercise price of $4.00 per share for each warrant. The exercise price remains unchanged from the price established in the original issuance. In other news, the Company said it has paid all of the principal and interest which was currently payable on its 12% Secured Debentures (the "Debentures"). The remaining principal on the Debentures is now $2.337 million and is due and payable on Dec. 31, 1997. American International Petroleum Corp. is engaged in oil and natural gas exploration and production in Columbia and Peru, South American, and in refining in Louisiana. CONTACT: American International Petroleum Corp. Denis Denis, king of Portugal: see Diniz. J. Fitzpatrick, 800/298-AIPC |
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