8% convertible promissory note due 2014 issued to CareBourn Capital
By Devika Patel
Knoxville, Tenn., June 24 - Amerilithium Corp. sold a $50,000 8% convertible promissory note to CareBourn Capital, LP on June 18, according to an 8-K filed Monday with the Securities and Exchange Commission. The investor paid $47,500 for the note, which represents the maturity amount minus $2,500 in fees.
The note is convertible into common stock at 55% of the average of the lowest three trading prices during the 10 trading days preceding the conversion.
The debt is due June 18, 2014.
AmeriLithium is a gold, silver and lithium mining company based in Lake Tahoe, Nev.
| Issuer: | Amerilithium Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $50,000
|
| Maturity: | June 18, 2014
|
| Coupon: | 8%
|
| Conversion price: | 55% of the average of the lowest three trading prices during the 10 trading days preceding the conversion
|
| Warrants: | No
|
| Investor: | CareBourn Capital, LP
|
| Fees: | $2,500
|
| Settlement date: | June 18
|
| Stock symbol: | OTCBB: AMEL
|
| Market capitalization: | $656,840
|
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