Post by
avispa on May 26, 2015 8:58am
LAST GULP OF AIR?
Alhambra will issue up to Cdn$8.0 million in convertible secured promissory notes (the "Notes") and warrants. Each Note will bear interest at an annual rate of 12%, will have a term of three years and will be secured by the Corporation's assets in Kazakhstan. The holders will have option to convert both the principal and interest portions of the Notes into common shares of the Corporation at Cdn$0.075 per common share. Alhambra has the option to pay the interest in either cash or shares of the Corporation