PLANO, TX / ACCESSWIRE / January 22, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ("Torchlight"), announced today that the David A. Straz, Jr. Foundation has converted $4 million of its senior secured note of Torchlight, representing the entire principal amount of its debt position in Torchlight, into common stock. The conversion price for the conversion was $1.50 per share. Torchlight still owes $8.5 million in senior secured debt to the David A. Straz, Jr. Irrevocable Trust.
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