By Devika Patel
Knoxville, Tenn., July 16 - White Canyon Uranium Ltd. said it plans a private placement of secured convertible notes for $2.5 million with investor Man Ying Lulu Yu. The notes will be sold in monthly $500,000 increments.
The 8% note is due Dec. 31, 2010. It is initially convertible into ordinary stock at A$10.75 per share.
Proceeds will be used to progress mining operations in Utah.
Vancouver, B.C.-based White Canyon is a uranium producer.
| Issuer: | White Canyon Uranium Ltd.
|
| Issue: | Secured convertible note
|
| Amount: | $2.5 million
|
| Maturity: | Dec. 31, 2010
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | A$10.75
|
| Warrants: | No
|
| Investor: | Man Ying Lulu Yu
|
| Pricing date: | July 16
|
| Stock symbol: | TSX Venture: WU
|
| Stock price: | C$0.14 at close July 16
|
| Market capitalization: | C$16.21 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
