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| Home : Canadian Metals Announces Closing of First Tranche of Private Placement of Convertible Debentures for Proceeds of $700,000 |
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Jul 28
2015 |
Canadian Metals Announces Closing of First Tranche of Private Placement of Convertible Debentures for Proceeds of $700,000 |
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MONTREAL, QUEBEC--(Marketwired - July 27, 2015) - Canadian Metals Inc. ( the "Corporation") (CSE:CME) is pleased to announces a first tranche closing of a private placement in the form of convertible debentures for aggregate gross proceeds of $700,000 as previously announced on June 29, 2015 (the "Private Placement"). The convertible debentures mature three years from the closing date and bear interest at a rate of 10% per annum, payable in equal semi-annual installments on June 30th and December 31st, commencing December 31st, 2015. At the option of the Corporation, interest shall be payable in cash or in shares for the first year. For year 2 and 3, interest shall be payable in cash only. If the payment is made in shares, it will be based on a price equal to 85% of the average closing price of the Common Shares of CME for a period of 20 consecutive trading days ending five trading days before the payment date. |
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| Source:http://www.marketwired.com/mw/release.do?id=2042052&sourceType=3 |
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