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| Home : Declan Announces $600,000 Convertible Debt Financing |
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Jun 27
2013 |
Declan Announces $600,000 Convertible Debt Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2013) - Declan Resources Inc. ("Declan" or the "Company") (TSX VENTURE:LAN) announces that it has secured convertible debt financing of CDN$600,000 (the "Loan") which will be expended on Declan's Nimini Hills (Sierra Leone) project and for general working capital purposes. Two insiders of the Company are participating in the Loan financing. The Loan will be for a one year term and will bear interest at 12% per annum. The Loan is convertible into common shares of the Company at the option of the lenders at any time prior to maturity of the Loan at a conversion price per share of the greater of $0.05 per share or the market price of the Company's shares on the TSX Venture Exchange on the date of conversion. The shares will be subject to a hold period expiring four months and one day after the date of issuance. The Loan is subject to TSX Venture Exchange approval. |
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| Source:http://www.marketwire.com/mw/release.do?id=1806277&sourceType=3 |
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