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| Home : Kazax Closes $19,568,893 Private Placement |
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Sep 27
2013 |
Kazax Closes $19,568,893 Private Placement |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2013) - Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX) Further to the Company's news release of August 15, 2013, the Company is pleased to announce it has closed its previously announced non-brokered private placement (the "Private Placement") of convertible unsecured non-interest bearing debentures (the "Debentures") for aggregate proceeds of $19,568,893.00 (the "Aggregate Proceeds"). The Debentures will mature on and become payable on September 26, 2016 (the "Maturity Date") and are direct, unsecured obligations of the Company, ranking equally with all other unsecured indebtedness of the Company. Upon receipt of all necessary approvals from the Ministry of Industry and New Technologies of the Republic of Kazakhstan on or before the Maturity Date for the Debentures, the principal amount of the Debentures will automatically be converted into units of the Company (the "Units") at the conversion price of $0.15 per Unit. |
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| Source:http://www.marketwired.com/mw/release.do?id=1835389&sourceType=3 |
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