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Marimaca Copper Corp T.MARI

Alternate Symbol(s):  MARIF

Marimaca Copper Corp. is a Canada-based exploration and development company focused on base metal projects in Chile. The Company’s principal asset is the Marimaca Copper Project, located in the Antofagasta Region of northern Chile. The Marimaca Copper Project is situated at a low altitude in Chile’s Coastal Copper Belt, 25 kilometers (km) east of the port of Mejillones and 45 km north of Antofagasta, Marimaca has access to water and power, road and rail networks supplying sulphuric acid and other consumables, as well as deepwater ports. The Marimaca Copper Project comprises a set of concessions (the 1-23 Claims), properties 100% owned and optioned by the Company, combined with the adjacent La Atomica and Atahualpa claims, over which Marimaca Copper has the right to explore and exploit resources. The Company also has an option agreement to acquire the Pampa Medina project (Pampa Medina), which consists of four mining concessions totaling 144 hectares.


TSX:MARI - Post by User

Bullboard Posts
Post by Oregonduckon May 11, 2018 3:56pm
122 Views
Post# 28020404

Death Spiral Financing ??

Death Spiral Financing ??
Death spiral financing is a process in which convertible financing used to fund primarily small cap companies can be used against it in the marketplace to cause the companys stock to fall dramatically, which can lead to the companys ultimate downfall...As per News Release dated April 19, 2018, "...Greenstone $2-million (U.S.) convertible loan to Coro In addition to the Greenstone investment, Coro has signed a convertible loan agreement with Greenstone for a $2-million (U.S.) convertible loan to Coro at the corporate level to cover continuing working capital requirements, including Marimaca project costs and associated corporate costs. The convertible loan has a maturity date of the earlier of an equity raising by Coro of not less than $5-million (U.S.) and Jan. 30, 2019. The $2-million (U.S.) is convertible into common shares of Coro at a price equal to the greater of: 8.95 cents (the volume-weighted average price of the Coro shares over the five trading days prior to this announcement) and the Coro common share price of any equity raising by Coro of not less than $5-million (U.S.). The convertible loan will attract interest of 12 per cent for the first six months and 15-per-cent interest thereafter. The convertible loan agreement contains standard conditions and events of default."
Bullboard Posts