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| Home : Chieftain Closes Remaining Tranche of Convertible Debenture Financing |
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Sep 25
2013 |
Chieftain Closes Remaining Tranche of Convertible Debenture Financing |
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TORONTO, ONTARIO--(Marketwired - Sept. 24, 2013) - Chieftain Metals Corp. (TSX:CFB) ("Chieftain" or "the Company") is pleased to announce that it has completed the second tranche of a non-brokered private placement of unsecured convertible debentures in the principal amount of $1,000,000 to a fund managed by West Face Capital Inc. ("West Face") after obtaining written consents from a majority of shares held by disinterested shareholders of the Company representing 58.6% of the disinterested shares and to permit a director to participate in the Company's flow-through private placement. Chieftain issued an additional 31,250 flow-through shares to the director at $0.80 per share for gross proceeds of $25,000. All proceeds from the flow-through private placement and part of the proceeds of the second tranche of the West Face debenture issuance will be used to finance a portion of the Company's 2013 exploration campaign and the remaining proceeds from the West Face debenture issuance will be used for general corporate purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=1834373&sourceType=3 |
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