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Letho Signs Letter of Intent with Stream Oil & Gas Ltd.

Source: www.gulfoilandgas.com 7/9/2014, Location: Africa

Letho Resources Corp has signed a Letter of Intent ("LOI") with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to CAD $5,000,000 (the "Loan"), which loan will be supported by the issuance of a convertible debenture to Letho. Subject to TSX Venture Exchange approval and the entry into a definitive agreement, Letho will advance the loan in two separate tranches, a first tranche of CAD $2.0 million ("First Loan") and the second tranche of CAD $3.0 million ("Second Loan"), on such dates as set out in the definitive agreement.

Under the terms of the convertible debenture set out in the definitive agreement, and are expected to include Stream's option to convert the Letho debenture into common shares of Stream. Stream may also prepay the debenture, in whole or in part, at any time without notice, bonus or penalty.

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