GREY:RUTFF - Post by User
Comment by
rudyforeston Jul 10, 2003 2:36pm
122 Views
Post# 6233747
RE: Check out the latest news
RE: Check out the latest newswith regard to your question, "how are they going to pay for it?"
the following was at the bottom of the NR:
These acquisitions will be financed through:
- The issuance of a $3.5 million Subordinated Repayable Debenture,with 1.3 million warrants attached at a price of $1.10 per commonshare. The Debenture is repayable within 36 months of closing("the Maturity Date") at an interest rate of 10% per annum. The
warrants are exercisable in whole or in part, at any time prior to
90 days after the Maturity Date.
- The issuance of a $3.0 million Convertible Subordinated Debenture,
convertible at $1.00 per share into 3.0 million common shares.
This Debenture carries a coupon rate of 10% per annum and is
repayable (unless previously converted) on the third anniversary
of closing.
- An additional brokered private placement of up to $2.1 million in
new shares issued at a minimum price of $0.65 per share.