Belmont Resources private placement Belmont Resources private placement
2023-11-16 16:08 ET - Private Placement - Debenture
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 19, 2023.
Convertible debenture: $420,000
Conversion price: convertible into a maximum of 14 million common shares at three cents per share of principal outstanding; the conversion price of three cents will expire on April 1, 2024
Maturity date: April 1, 2024
Interest rate: The convertible debenture bears no interest before April 1, 2024. Interest on arrears of 12.0 per cent per annum will begin to accrue starting April 2, 2024, if the principal amount is not paid in full on April 1, 2024. Interest is payable in cash, anything else will be subject to TSX Venture Exchange approval.
Number of placees: two placees
The company issued a news release on Nov. 15, 2023, confirming closing of the private placement.
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