Aldershot Resources arranges $100,000 debentureAldershot Resources arranges $100,000 debenture
2010-07-12 15:20 ET - News Release
Mr. Jeremy Caddy reports
ALDERSHOT RESOURCES LTD. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING
Aldershot Resources Ltd. has entered into a financing agreement with a director, consisting of an unsecured convertible debenture in a principal amount of $100,000. The debenture will be repayable on or before Dec. 31, 2011, with interest payable quarterly at 10 per cent per annum, in cash or shares of Aldershot. The debenture may be converted at the option of the holder at any time prior to Dec. 31, 2011, into common shares of Aldershot at five cents per share. Aldershot has the right, at any time prior to maturity, to redeem the debenture by repaying the principal amount and any outstanding interest. The debenture is, and any common shares issued upon conversion of the debenture will be, subject to a statutory hold period of four months from July 9, 2010, under applicable Canadian securities legislation and stock exchange policies.
Aldershot will use the proceeds for working capital. Interest will be paid out of working capital. The debenture financing is subject to the approval of the TSX Venture Exchange.
We seek Safe Harbor.