By Devika Patel
Knoxville, Tenn., July 17 - Garson Gold Corp. said it arranged a C$2.15 million private placement of a convertible secured debenture. The debenture was sold to RMB Australia Holdings Ltd.
The two-year note will carry a coupon of 10%. It is convertible into common shares at a conversion price of C$0.1335.
RMB also received 4 million warrants, exercisable at C$0.1668 for two years.
Based in Vancouver, B.C., Garson Gold is a gold mining company.
| Issuer: | Garson Gold Corp.
|
| Issue: | Convertible secured debenture
|
| Amount: | C$2.15 million
|
| Maturity: | Two years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | C$0.1335
|
| Warrants: | 4 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.1668
|
| Investor: | RMB Australia Holdings Ltd.
|
| Pricing date: | July 17
|
| Stock symbol: | TSX Venture: GG
|
| Stock price: | C$0.12 at close July 17
|
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