Torchlight Eliminates Additional $1,120,000 in Subordinated Debt

Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ("Torchlight"), announced today that the holder of $1,120,000 of Torchlight's subordinated debt has converted such debt into the common stock of Torchlight at a price of $1.10 per share as set out under the convertible note issued by Torchlight to the holder.