Highbank $1.3-million debenture private placement

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Highbank $1.3-million debenture private placement

posted on Jul 26, 2014 06:59AM

2014-07-25 18:59 ET - Private Placement - Debenture

The TSX Venture Exchange has accepted for filing documentation with respect to the second and final tranche of a non-brokered private placement announced April 3, 2014, and July 18, 2014.

Convertible debenture: $1.3-million

Conversion price: Convertible into common shares at a conversion price of 45 cents in year 1, at 35 cents in year 2 and at 25 cents in year 3

Maturity date: Three years from date of issuance

Interest rate: 10 per cent per year

Number of placees: Four placees

Finders' fees: $75,000 payable to Melissa Loucks; $7,500 payable to Alex Kuznecov; 22,727 shares at a deemed price of 33 cents per share issuable to Michael R. Cadotte

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