By Devika Patel
Knoxville, Tenn., Dec. 11 - Bell Copper Corp. said it arranged a private placement of two-year 1% convertible debentures for C$1 million.
The debentures are convertible into units at C$0.05 per unit. Each unit consists of one common share and one warrant, which is exercisable at C$0.10 for two years.
Proceeds will be used for general working capital.
Vancouver, B.C.-based Bell Copper is an exploration-stage company engaged in the acquisition and exploration of prospective base metals properties in North America.
| Issuer: | Bell Copper Corp.
|
| Issue: | Convertible debentures, convertible into units of one common share and one warrant
|
| Amount: | C$1 million
|
| Maturity: | Two years
|
| Coupon: | 1%
|
| Price: | Par
|
| Yield: | 1%
|
| Conversion price: | C$0.05
|
| Warrants: | One per unit upon conversion
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Dec. 11
|
| Stock symbol: | TSX Venture: BCU
|
| Stock price: | C$0.025 at close Dec. 10
|
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