9% debentures due in two years, convert to stock at C$0.10 per share
By Devika Patel
Knoxville, Tenn., May 31 - CMQ Resources Inc. said Wednesday it will conduct a private placement of secured convertible debentures to raise about C$2.5 million. The deal was negotiated with Matco Investments Ltd.
The debentures have a 9% coupon, mature in two years and convert to common stock at C$0.10 per share, which is a 42.86% premium to the May 29 closing share price of C$0.07.
Proceeds will be used for working capital purposes.
CMQ is a gold exploration company based in Calgary, Alta.
| Issuer: | CMQ Resources Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | C$2.5 million (approximate)
|
| Maturity: | Two years
|
| Coupon: | 9%
|
| Conversion price: | C$0.10
|
| Conversion premium: | 42.86%
|
| Warrants: | No
|
| Investor: | Matco Investments Ltd
|
| Pricing date: | May 30
|
| Stock symbol: | TSX Venture: NV
|
| Stock price: | C$0.07 at close May 29
|
| Market capitalization: | C$3.09 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
