Augusta Resource retires C$3 million in convertible debentures in cash, stock

By Sheri Kasprzak

New York, Nov. 21 - Augusta Resource Corp. said it has retired C$3 million in convertible debentures in both stock and cash.

The terms of the debentures were altered to allow repayment in both cash and stock as opposed to cash or stock.

The company paid C$3 million in cash plus C$1.62 million in interest and issued 1.5 million shares valued at C$1.10 each to retire the debt.

For the amendment, the holder received warrants for 750,000 shares, exercisable at C$1.44 each for one year.

Based in Vancouver, B.C., Augusta is a mineral exploration and development company.

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