|
| Home : Xylitol Canada Announces $3 Million Financing |
|
Sep 17
2013 |
Xylitol Canada Announces $3 Million Financing |
|
TORONTO, ONTARIO--(Marketwired - Sept. 16, 2013) - Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) is pleased to announce today that it has completed a $3 million debt financing (the "Loan") with Dundee Agricultural Corporation ("Dundee"). The Loan accrues interest at a rate of 1.0% per month. Subject to the approval of the TSX Venture Exchange (the "Exchange") and any shareholder approval which may be required by the Exchange, the principal amount of the Loan outstanding from time to time or any portion thereof may, at the option of Dundee, be converted into common shares of the Company at the price of $0.24 per common share. Upon conversion of the principal amount of the Loan, any accrued and unpaid interest up to but excluding the date of conversion will be paid in cash, or at the option of Dundee, and subject to the approval of the Exchange, in common shares at a price per share equal to the greater of: (a) the last closing price of the common shares on the Exchange on the date of conversion, and (b) $0.10 per share. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=1831226&sourceType=3 |
| |
|
Related News
|
» Windscreen Chipped or Cracked - Now you can Expect Even Faster Service
» Lundin Mining Secures Commitments for Eagle Project Funding
|
|
|
