The private placement of the settlement shares will cover C$1,085,037 in debt Polaris owes to Tiger Energy for services rendered. The shares will be listed on the Toronto Stock Exchange.
``"We are very pleased that Polaris agreed to our request to exchange the debt for shares,’’ said Joe Baxter, president of Tiger Energy. `` We see this investment as a great long term opportunity because Polaris's strong geothermal resource has been coupled with such a fine management team.’’
Polaris,
