Modena Resources secures A$1.25 million converting loan with Truestone

Proceeds slated for working capital; new board appointments planned

By Toni Weeks

San Diego, Sept. 20 - Modena Resources Ltd. said it has secured a A$1.25 million converting loan, according to a company announcement.

The loan is subject to shareholder approval and the company's new board appointments: Cameron Edwards, executive director, and Cosimo Damiano, non-executive director. Modena will convene a shareholders meeting as soon as practical.

Truestone Capital has been retained by the company to complete the loan and provide corporate and strategic support.

Proceeds will be used for working capital.

Modena Resources is an independent oil and gas production and exploration company with a primary interest in the Padre Island region of Texas. The company is located in West Perth, Australia.

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