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| Home : Hornby Bay Announces $55,000 Convertible Promissory Note Financing |
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Jun 04
2014 |
Hornby Bay Announces $55,000 Convertible Promissory Note Financing |
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TORONTO, ONTARIO--(Marketwired - June 4, 2014) - Hornby Bay Mineral Exploration Ltd. (TSX VENTURE:HBE) ("Hornby Bay" or "Company") announces that it has issued a CDN$55,000 principal amount unsecured convertible promissory note (the "Note"). The Note will bear interest at a rate of 9% per annum, calculated annually and will be due two years from the date of issuance. Each $0.10 of the principal amount of the Note is convertible into units, each unit consists of one common share ("Common Share") in the capital of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant, when issued, is exercisable to purchase one Common Share at a price of $0.20 per Common Share on or before June 4, 2016. |
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| Source:http://www.marketwired.com/mw/release.do?id=1917331&sourceType=3 |
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