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| Home : Inventus Announces Closing of $1,550,000 Convertible Debt and Special Warrant Financing |
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Apr 12
2016 |
Inventus Announces Closing of $1,550,000 Convertible Debt and Special Warrant Financing |
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TORONTO, ONTARIO--(Marketwired - April 11, 2016) - Inventus Mining Corp. ("Inventus" or the "Company") (TSX VENTURE:IVS) is pleased to announce further to is news release dated February 25, 2016, the closing of a previously announced non-brokered private placement of C$1.3 million in principal amount of senior secured convertible debentures (the "Offering") at a price of C$100,000 and integral multiples thereof per debenture ("Debentures"). The Debentures will have an interest rate of 8% per year, calculated semi-annually from their date of issuance and will mature on the date that is two (2) years from the date of issuance (the "Maturity Date"). At the option of the lenders, principal under the Debenture is convertible (the "Conversion") into common shares of Inventus (the "Conversion Shares") at a conversion price of C$0.05 per Conversion Share until the date that is twelve (12) months prior to the Maturity Date or at a conversion price of C$0.10 per Conversion Share thereafter, in accordance with the policies of the TSX Venture Exchange, however, the lenders may only exercise their right to Conversion following completion of a consolidation (the "Consolidation") of the common shares of Inventus on a minimum basis of two (2) (old) common shares for one (1) (new) common share, and up to or on the Maturity Date. In the event the Consolidation is not completed on or prior to June 15, 2016, it will constitute an event of default pursuant to the terms of the Debenture. |
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| Source:http://www.marketwired.com/mw/release.do?id=2113760&sourceType=3 |
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