Capital Corp Merchant Banking President and CEO, Mr Gilles Herard, Jr Engineers $20M Funding Agreement with Petrostar
Mr Gilles Herard, Jr, President and CEO of Capital Corp Merchant Banking personally engineered the funding structure for Petrostar's $20 million project, which consists of exploring and developing the company's Bakken oil property in Canada. The funding agreement Mr Herard designed is based on debenture. Mr Herard is a seasoned merchant banker and has been in the banking industry for 38 years.
Orlando, FL, December 24, 2010 --(PR.com)-- Capital Corp Merchant Banking has entered into a $20 million funding agreement with Petrostar. The funding agreement was engineered by Capital Corp’s President and CEO, Mr Gilles Herard, Jr.
Funding will be used specifically for the exploration and development of Petrostar’s Bakken property in Canada, and the new subsidiary company will be a 50/50 joint venture between Capital Corp and Petrostar.
The method by which this project is to be funded is the brainchild of Mr Herard. Mr Herard is a seasoned merchant banker and has been in the banking industry for 38 years. He worked early in his career at the Toronto Dominion Bank (Canada) and later on joined Manufacturer Hanover (MH) of New York as Senior Credit Analyst. He eventually created his own Firm, Capital Corp Merchant Banking, where he syndicates and structures funding for top companies worldwide, all the while investing his own firm’s funds into the projects.
As the head of Capital Corp Merchant Banking, Mr Herard has become a leading figure in international middle-market project financing and engineers all funding structures for projects at Capital Corp. Mr Herard has received numerous awards for his work and other contributions including being appointed to the Presidential Business Commission, Honorary Co-Chairman of the Business Advisory Council, nominated as Executive of the Year by the internationally acclaimed National Register’s Who’s Who, and having received the Senatorial Medal of Freedom, among many others.
Capital Corp. Merchant Banking is part of a group that was formed 25 years ago to meet the growing needs of companies/clients and promoters looking for funding and professional assistance in a diversity of projects. For further information on Capital Corp., please see its website at www.capitalcorpmerchantbanking.com.
Phase 1 of exploration will consist of further mapping of the properties and the purchase of seismic trade data, which will determine up to 8 drill targets to be drilled. Phase 2 of the project will be to expand on the success of Phase I with new wells and infill wells planned in the appropriate areas. Further property acquisition or farm-ins will be considered. As operator, Petrostar will be in charge of all aspects of the Bakken project. After a period of 5 years, Petrostar will have the option to buy back all shares in the subsidiary owned by the funder at the market value to be determined by a professional third party.
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Funding will be used specifically for the exploration and development of Petrostar’s Bakken property in Canada, and the new subsidiary company will be a 50/50 joint venture between Capital Corp and Petrostar.
The method by which this project is to be funded is the brainchild of Mr Herard. Mr Herard is a seasoned merchant banker and has been in the banking industry for 38 years. He worked early in his career at the Toronto Dominion Bank (Canada) and later on joined Manufacturer Hanover (MH) of New York as Senior Credit Analyst. He eventually created his own Firm, Capital Corp Merchant Banking, where he syndicates and structures funding for top companies worldwide, all the while investing his own firm’s funds into the projects.
As the head of Capital Corp Merchant Banking, Mr Herard has become a leading figure in international middle-market project financing and engineers all funding structures for projects at Capital Corp. Mr Herard has received numerous awards for his work and other contributions including being appointed to the Presidential Business Commission, Honorary Co-Chairman of the Business Advisory Council, nominated as Executive of the Year by the internationally acclaimed National Register’s Who’s Who, and having received the Senatorial Medal of Freedom, among many others.
Capital Corp. Merchant Banking is part of a group that was formed 25 years ago to meet the growing needs of companies/clients and promoters looking for funding and professional assistance in a diversity of projects. For further information on Capital Corp., please see its website at www.capitalcorpmerchantbanking.com.
Phase 1 of exploration will consist of further mapping of the properties and the purchase of seismic trade data, which will determine up to 8 drill targets to be drilled. Phase 2 of the project will be to expand on the success of Phase I with new wells and infill wells planned in the appropriate areas. Further property acquisition or farm-ins will be considered. As operator, Petrostar will be in charge of all aspects of the Bakken project. After a period of 5 years, Petrostar will have the option to buy back all shares in the subsidiary owned by the funder at the market value to be determined by a professional third party.
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Contact
Capital Corp Merchant Banking
Gilles Herard
407-540-0142
www.capitalcorpmerchantbanking.com
Gilles Herard
407-540-0142
www.capitalcorpmerchantbanking.com
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