By Susanna Moon
Chicago, July 16 - Black Pearl Minerals Consolidated Inc. said it arranged a C$1.5 million private placement of convertible debentures and a C$1.5 million placement of flow-through shares.
The company said it also settled its C$195,329 placement of shares.
The two-year convertible debentures bear interest at Prime plus 100 basis points and are convertible at C$0.30 per share for two years or for 3,000 ounces of gold payable in cash at any time after one year.
The placement is non-brokered.
Black Pearl is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Black Pearl Minerals Consolidated Inc.
|
| Issue: | Convertible debentures, flow-through shares, shares
|
| Placement agent: | Non-brokered
|
| Announcement date: | July 16
|
| Stock symbol: | TSX Venture: BLK
|
| Stock price: | C$0.225 at close July 13
|
|
|
| Convertible debentures
|
| Amount: | C$1.5 million
|
| Maturity: | Two years
|
| Coupon: | Prime plus 100 bps
|
| Conversion price: | C$0.30 per share for two years or for 3,000 ounces of gold payable in cash at any time after one year
|
|
|
| Flow-through shares
|
| Amount: | C$1.5 million
|
| Shares: | 6 million
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Shares:
|
| Amount: | C$195,329
|
| Shares: | 976,645
|
© 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.
