RE: Challenger Energy Corp. Obtains Court Order fo Comments Welcome
NEWS!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Challenger Energy Corp (C-CHQ) - Private Placement - Debenture
Challenger Energy $14-million convertible loan
2009-02-27 19:07 EST - Private Placement - Debenture
Shares issued 53,685,763
CHQ Close 2009-02-26 C$ 0.38
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 25, 2008.
Convertible loan: $14-million
Conversion price: Convertible into units consisting of one common share and one-half of one share purchase warrant at a rate of $3.00 per unit. Each unit warrant will be exercisable for one common share at a price of $3.50 for a period of one year from the date of issuance.
Maturity date: March 1, 2009
Bonus warrants: 500,000 bonus warrants; each bonus warrant is exercisable for one common share at a price of $3.50 until Oct. 2, 2009.
Interest rate: 10 per cent per year
The company has the option to pay the interest by issuing shares at a deemed price equal to the volume weighted average trading price for the 10 days ending immediately prior to Dec. 31, 2008, being $1.37 per share.
Hidden placees: one