Tango Mining $502,353 debenture private placement 2016-08-31 20:15 ET - Private Placement - Debenture
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 18, 2016.
Convertible debenture: $502,353.50
Initial conversion price: five cents per common share
Term of maturity: six months
Interest rate: 12 per cent per year
Warrants: 10,047,070 share purchase warrants to purchase 10,047,070 shares
Initial exercise price: 10 cents
Term to expiry: two years
Number of placees: five placees
Insiders: Terry Tucker, 300,000; Kevin Gallagher, 1,843,420
Finder's fee: Merlin Capital Partners LLP, $12,000 cash and 313,416 warrants
Finder's warrant initial exercise price: 10 cents
Finder's warrant term to expiry: two years
Note that in certain circumstances, the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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