By Devika Patel
Knoxville, Tenn., April 15 - American Eagle Energy, Inc. completed a $1 million 8% convertible secured debentures financing on April 15, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The debentures are due April 15, 2011. They are convertible at any time at an initial conversion price of $0.75 per share.
The investors also received warrants for 625,000 common shares, which are exercisable at $0.80 until April 15, 2012.
Based in Billings, Mont., American Eagle Energy is a natural resource explorer.
| Issuer: | American Eagle Energy, Inc.
|
| Issue: | Convertible secured debentures
|
| Amount: | $1 million
|
| Maturity: | April 15, 2011
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | $0.75
|
| Warrants: | For 625,000 shares
|
| Warrant expiration: | April 15, 2012
|
| Warrant strike price: | $0.80
|
| Settlement date: | April 15
|
| Stock symbol: | OTCBB: AMZG
|
| Stock price: | $0.68 at close April 14
|
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