Company sells two-year unsecured notes to fund the Klondike Project
By Devika Patel
Knoxville, Tenn., April 29 - Bullfrog Gold Corp. settled a $220,000 private placement of a 12.5% convertible unsecured promissory note with NPX Metals, Inc. on April 25, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The note is due in two years and is convertible into common stock at $0.25 per share.
NPX Metals also received 100% warrant coverage, with each warrant exercisable at $0.35 for three years.
Proceeds will be used for the Klondike project and general corporate purposes.
Based in Grand Junction, Colo., Bullfrog is a gold explorer.
| Issuer: | Bullfrog Gold Corp.
|
| Issue: | Convertible unsecured promissory note
|
| Amount: | $220,000
|
| Maturity: | Two years
|
| Coupon: | 12.5%
|
| Conversion price: | $0.25
|
| Warrants: | 100% coverage
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.35
|
| Investor: | NPX Metals, Inc.
|
| Settlement date: | April 25
|
| Stock symbol: | OTCBB: BFGC
|
| Stock price: | $0.06 at close April 24
|
| Market capitalization: | $2.7 million
|
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