Western Magnesium debenture private placement
2023-10-13 17:48 ET - Private Placement - Debenture
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 28, 2022, and March 28, 2023.
Convertible debenture: $4,997,037 of unsecured convertible notes
Conversion price: convertible into units, each consisting of one common share in the capital of the company and one share purchase warrant at a conversion price of 12 cents of principal per debenture
Maturity date: 18 months from the date of issuance
Warrants: Each warrant shall have a term of 18 months from the date of issuance of the debentures and shall entitle the holder to purchase one share at an exercise price of 17 cents per share.
Interest rate: 15 per cent per annum
Number of placees: one placee
Finder's fee: none
Insider/pro group participation: none