Prescient closes debenture financing for $1-million
2014-11-24 20:28 ET - News Release Shares issued 16,050,000 PMC Close 2014-09-08 C$ 1.01 Mr. Marc Levy reports PRESCIENT CLOSES $1-MILLION FINANCING Prescient Mining Corp. has closed a non-brokered financing of a $1-million secured, interest-bearing convertible debenture at a price of $1.01 per common share. The debenture has a term of one year and is repayable in full with accrued interest at 8 per cent per annum on maturity. The lender may, at its option, convert at any time during the term of the debenture, all or any part of the amount outstanding, into common shares of the company at a price of $1.01 per common share. All common shares to be issued upon conversion of the debenture will be subject to a four-month hold period pursuant to applicable Canadian securities laws. The net proceeds from the debenture shall be used for construction costs, working capital and general corporate purposes