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MONTREAL, QUEBEC--(Marketwired - Jan. 16, 2017) - NQ Exploration Inc. ("NQ" or the "Corporation") (TSX VENTURE:NQE) is pleased to announce the closing of an additional and final tranche for gross proceeds of $50,000 through the issuance of 50,000 debentures (each a "Debenture") at $1,000 principal amount per Debenture, which will mature 36 month from their issuance and will bear interest at a rate of 14% per annum payable quarterly in cash. The aggregate principal amount of the Debentures shall be automatically convertible at any time before maturity into common shares of NQ (each a "Common Share ") at a price of $5 per Common Share in the event of a default on the loan to A&M Resources USA 2015 LLC, as more particularly described in the Corporation October 21, 2016 press release. |
