Bellatrix Exploration to redeem 7.5% unsecured convertible debentures

By Jennifer Chiou

New York, May 3 - Bellatrix Exploration Ltd. announced the July 2 redemption of its 7.5% unsecured subordinated convertible debentures due June 30, 2011.

The securities will be redeemed at $1,025 per $1,000 principal amount plus accrued interest.

Bellatrix is redeeming the debentures in conjunction with the closing of its recently completed C$55 million bought-deal financing of 4.75% convertible unsecured subordinated debentures due April 30, 2015.

Computershare Trust Co. of Canada is the trustee.

Based in Calgary, Alta., Bellatrix Exploration is an oil and gas exploration and production company.

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