By Devika Patel
Knoxville, Tenn., Dec. 4 - ONA Energy Inc. announced it has secured C$3.37 million through an agreement for one-year loans accompanied by shares.
The loans will bear interest at 10% per year during its one-year term. The company also issued 420,625 bonus shares at a deemed price of C$0.80 apiece.
The company may prepay the loans at any time.
Proceeds will be used for investments and general working capital purposes.
Ona Energy is a Vancouver, B.C.-based international energy company focused on the acquisition and development of power generation and oil and gas projects.
| Issuer: | ONA Energy Inc.
|
| Issue: | Loan
|
| Amount: | C$3,365,000
|
| Maturity: | One year
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Warrants: | No
|
| Fees: | C$60,000
|
| Pricing date: | Nov. 1
|
| Stock symbol: | Toronto: GRS
|
| Stock price: | C$0.65 at close Nov. 1
|
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