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TORONTO, ONTARIO--(Marketwired - Jan. 9, 2014) - PC Gold Inc. (TSX:PKL) ("PC Gold" or the "Company") wishes to announce that it has completed a non-brokered private placement financing through the issuance to arm's length lenders of $600,000 principal amount of senior secured debentures of the Company (the "Debentures"), at an aggregate purchase price and gross proceeds of $500,000 (the "Offering"). The Debentures bear interest at a rate of 4.0% per annum, payable quarterly in arrears, and have a maturity date of July 8, 2015. The Company's obligations under the Debentures are direct secured obligations of the Company ranking senior to all indebtedness of the Company, subject to certain permitted encumbrances. As additional consideration for their loans, the lenders were also issued an aggregate of 2,000,000 common shares in the capital of the Company (the "Bonus Shares"). |
