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Bullboard - Stock Discussion Forum Nordex Explosives Ltd V.NXX

"Nordex Explosives Ltd is engaged in development, manufacturing and resale of explosives products in Canada."

TSXV:NXX - Post Discussion

Nordex Explosives Ltd > More Borrowing
View:
Post by Bboomer2 on Aug 27, 2015 12:23pm

More Borrowing

The Loan is in the principal amount of Cdn$2,000,000, it matures on August 26, 2017 (the "Maturity Date") and pays interest at the rate of 15% per annum
Read more at https://www.stockhouse.com/news/press-releases/2015/08/27/nordex-explosives-ltd-announces-loan-financing#7JA8skgYmFD0Lxbi.99

15% interest?

I guess the good news is Zuckers wouldn't loan 2 million to a company that was going under.    Their involvement still puzzles me

Comment by Bean_and_Dunn on Aug 27, 2015 1:01pm
There were more than a few complaints to the TSXV in regards to the outrageous convertible debs. First it appeared that the conversion price was at $0.21, then it appeared that the conversion would be at $0.125. WTF, at 12.5 cents it is less than a third of book. At 12.5 cents the Zucker Trust was grossly unfair in my opinion. Zuckers are still loaning Nordex money they are doing it through Nil ...more  
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