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| Home : Mira Closes Convertible Debt Financing |
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Jan 13
2012 |
Mira Closes Convertible Debt Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - Mira Resources Corp. (TSX VENTURE:MRP) ("Mira") announces that it has closed a $2 million convertible debt financing (the "Debt Financing"). The loan is for a one year term and bears interest at 12% per annum. Funds which were advanced are convertible into common shares of Mira at the option of Mira at any time prior to maturity of the loan. In the event of conversion, the outstanding principal sum will be converted into common shares of Mira at a price per share which is equal to 95% of the weighted average trading price of Mira's common shares on the TSX Venture Exchange for the 20 trading days preceding the date of conversion subject to a minimum conversion price of $0.15 per share. $1.75 million of the Debt Financing was subscribed for by management of Mira. |
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| Source:http://www.marketwire.com/mw/release.do?id=1606102&sourceType=3 |
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