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| Home : Vena Announces Proposed Private Placement and Provides Corporate Update |
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Sep 20
2014 |
Vena Announces Proposed Private Placement and Provides Corporate Update |
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TORONTO, ONTARIO--(Marketwired - Sept. 19, 2014) - Vena Resources Inc. (the "Company" or "Vena") (TSX:VEM) (LMA:VEM) (FRANKFURT:V1RA) (OTCBB:VNARF) announces that further to its press release of September 11, 2014, the Company intends to complete a non-brokered private placement of unsecured convertible debentures (the "Debentures") in the principle amount of $750,000 (the "Offering"). The private placement is subject to approval by the Toronto Stock Exchange ("TSX"). The Debentures will mature two years following the issuance of the Debentures and will bear interest at the rate of 10% per annum. The Debenture holders will be entitled to convert the principal amount into common shares of the Company at a conversion price of $0.15 and assuming the aggregate amount of the Offering is converted this would result in approximately 5,000,000 common shares of the Company being issued upon conversion of the Debentures. |
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| Source:http://www.marketwired.com/mw/release.do?id=1949129&sourceType=3 |
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