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| Home : Passport Potash Announces Convertible Debenture |
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Jan 21
2013 |
Passport Potash Announces Convertible Debenture |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2013) - Passport Potash, Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF)("Passport" or the "Company") announces a non-brokered private placement of convertible debentures for up to $2.5 million at an interest rate of 15% (the "Offering"). The principal amount of the debentures is convertible into common stock of the Company at the option of the subscriber, in whole or in part, at a price of US$0.19 per share for a period of one year from the date of closing. The private placement is subject to the approval and consent of the TSX Venture Exchange (the "Exchange"). Upon approval by the Exchange the subscriber shall receive five warrants for each US$1.00 of principal amount tendered in the Offering, entitling the holder to acquire one share for each warrant at an exercise price of US$0.19 per share for a period of one year from the date of issuance. |
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| Source:http://www.marketwire.com/mw/release.do?id=1747703&sourceType=3 |
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