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| Home : Bralorne Announces Convertible Debenture Financing of Up to $7.5 Million |
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Apr 25
2013 |
Bralorne Announces Convertible Debenture Financing of Up to $7.5 Million |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 24, 2013) - Bralorne Gold Mines Ltd. (the "Company") (TSX VENTURE:BPM)(OTCQX:BPMSF)(BERLIN:GV7)(FRANKFURT:GV7)(WKN A0B75M) is pleased to announce that the Company intends to complete a private placement of secured convertible debentures (the "Convertible Debentures") in the aggregate principal amount of a minimum of $5,000,000 and up to a maximum of $7,500,000 (the "Offering"). The principal amount of the Convertible Debentures will mature twenty four (24) months from the Closing Date (the "Maturity Date") and accrue interest at 12.5% per annum payable at the Maturity Date. Principal will be convertible into units of the Company (the "Units"), and accrued interest will be convertible into common shares of the Company (the "Shares"), at the election of either the Company or the debenture holders, as described below. Each Unit will be comprised of one Share and one-half of a share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable to purchase one Share of the Company at CAD $1.35 per Share, if exercised within thirty (30) months from the closing date of the Offering (the "Closing Date"). |
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| Source:http://www.marketwire.com/mw/release.do?id=1782552&sourceType=3 |
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