Abcourt Provides Update on Ongoing Financings
News Source : Financial Post
News Summary
- Abcourt Mines Inc
- (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it intends to complete a non-brokered private placement of a secured convertible debenture of the Corporation for gross proceeds of $3,000,000 (the “Debenture Offering”)
- The Debenture will bear interest at the SOFR (Secured Overnight Financing Rate) plus 10%, per annum, and will mature four years following the date of issuance
The Warrants and any Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period in Canada of 4 months and one day from the date of issuance of the Warrants. The Warrants [+5790 chars]
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