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| Home : Lakeside Announces Extension of the Maturity Date of the Debenture |
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Oct 08
2016 |
Lakeside Announces Extension of the Maturity Date of the Debenture |
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TORONTO, ONTARIO--(Marketwired - Oct. 7, 2016) - Lakeside Minerals Inc. (NEX:LAK.H) (the "Company" or "Lakeside") wishes to announce that it has entered into a waiver and amending agreement with the holder of the Company's $50,000 unsecured, convertible debenture (the "Debenture"), originally issued on September 16, 2014 and bearing interest at a rate of 12% per annum, payable semi-annually in cash or common shares of the Company (the "Shares"), pursuant to which the parties have agreed to extend the maturity date of the Debenture to September 16, 2017, upon which time all outstanding principal and interest owing under the Debenture (including the March 16, 2016 interest payment that was deferred to the original maturity date) will be due and payable (the "Amendment"). The original maturity date of the Debenture was September 16, 2016. The Debenture is convertible at a price of $0.10 per Share until September 16, 2017, is redeemable at any time by the Company, subject to providing 45 days' notice, and is repayable at maturity in cash or Shares at the option of the Company. The Amendment is subject to the approval of the TSX Venture Exchange. |
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| Source:http://www.marketwired.com/mw/release.do?id=2164940&sourceType=3 |
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