Company offers 10% one-year convertible debentures in offering
By Devika Patel
Knoxville, Tenn., March 19 - EMC Metals Corp. settled a $650,000 private placement of 10% convertible debentures on March 14, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The debentures, which mature in one year, are convertible into common stock at $0.05 per share, which is identical to the March 13 closing share price.
Based in Vancouver, B.C., EMC is a specialty metals and alloys company focusing on scandium, tungsten, molybdenum, vanadium and other specialty metals.
| Issuer: | EMC Metals Corp.
|
| Issue: | Convertible debentures
|
| Amount: | $650,000
|
| Maturity: | One year
|
| Coupon: | 10%
|
| Conversion price: | $0.05
|
| Call: | Yes
|
| Warrants: | No
|
| Settlement date: | March 14
|
| Stock symbol: | OTCBB: EMMCF
|
| Stock price: | $0.05 at close March 13
|
| Market capitalization: | $8.71 million
|
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