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| Home : CanAm Coal Corp. Closes First Tranche of Convertible Debenture Offering |
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Aug 25
2010 |
CanAm Coal Corp. Closes First Tranche of Convertible Debenture Offering |
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CALGARY, ALBERTA--(Marketwire - Aug. 24, 2010) - CanAm Coal Corp. (TSX VENTURE:COE) ("CanAm" or the "Company") is pleased to announce the closing of a first tranche of $1.965 million of its unsecured convertible redeemable debentures (the "Debentures"). The Debentures will bear interest at the rate of twelve per cent (12%) per annum, payable semi-annually on the last day of August and February, with the first interest payment commencing on February 28, 2011. The Debentures will have a term of 36 months (or 3 years) with a maturity date of August 31, 2013. The Debentures will be convertible at the holder's option into common shares of the Company at any time prior to the maturity date at a conversion price of $0.15 per common share in year one, $0.17 in year two and $0.19 in year three. The Company can redeem the Debentures at any time prior to th |
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| Source:http://www.marketwire.com/mw/release.do?id=1308734&sourceType=3 |
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