Investor RMB Australia Holdings gets warrants for 10 million shares
By Devika Patel
Knoxville, Tenn., Dec. 12 - Bullfrog Gold Corp. said it has arranged a $4.2 million debt facility with RMB Australia Holdings Ltd.
The loan carries a variable coupon equal to Libor plus 700 basis points and matures in two years. The facility includes an arrangement fee of 7%.
RMB Australia also received three-year warrants for 7 million common shares, which are exercisable at $0.35. The strike price is identical to the Dec. 11 closing share price.
Proceeds will be used for advancing the Newsboy Gold Project, project and corporate administration, including property payments, financing fees and debt service.
Based in Grand Junction, Colo., Bullfrog is a gold explorer.
| Issuer: | Bullfrog Gold Corp.
|
| Issue: | Debt facility
|
| Amount: | $4.2 million
|
| Maturity: | Two years
|
| Coupon: | Libor plus 700 bps
|
| Warrants: | For 7 million shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.35
|
| Fees: | 7%
|
| Investor: | RMB Australia Holdings Ltd.
|
| Pricing date: | Dec. 12
|
| Stock symbol: | OTCBB: BFGC
|
| Stock price: | $0.35 at close Dec. 11
|
| Market capitalization: | $10.27 million
|
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