|
| Home : Sundance Energy Announces Closing of Private Placement of Debentures |
|
Oct 01
2013 |
Sundance Energy Announces Closing of Private Placement of Debentures |
|
CALGARY, ALBERTA--(Marketwired - Oct. 1, 2013) - Sundance Energy Corporation ("Sundance" or the "Corporation") (TSX VENTURE:SNY) (OTCQX:SNYXF) announced today that the Corporation has closed the previously announced non-brokered private placement offering of 10% secured subordinated convertible debentures in the principal amount of $500,000, subject to TSX Venture Exchange final approval. The debentures will bear interest at the rate of ten percent (10%) per annum, payable quarterly and will mature on the date that is the earlier of: (a) five (5) years from the date of issuance; and (b) the date that is sixty (60) days' following the receipt (the "60 Day Date") by the Corporation of written notice from the holder of a debenture that the term has been reduced to such 60 Day Date, which notice may be given in the holder's sole discretion at any time during the period from two (2) years from the date of issuance until five (5) years from the date of issuance of the debenture. The debentures will be secured against the personal and real property of the Corporation and will be convertible at the holder's option into common shares of the Corporation (on a post-consolidation basis) at a conversion price of: (i) $0.05 per common share until the date that is one (1) year from the closing date; and (ii) $0.10 per common share for the period from the date following one (1) year from the closing date up to and including the maturity date. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=1836682&sourceType=3 |
| |
|
Related News
|
» Cloud9b2b, LLC Partners with Lango Shels, LLC
» Ex-Guatemala Soldier Guilty in US Immigration Case
|
|
|
