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Gravity Ltd.: Press Release
TORONTO, ONTARIO--(Marketwire - June 25, 2010) - Gravity Ltd. ("Gravity"), 1681 Summitridge Drive, Beverley Hills, CA, 90210, USA, announces that it has advanced the principal amount of C$120,000 to Zaruma Resources Inc. ("Zaruma") pursuant to the second tranche of a 10% Senior Unsecured Convertible Promissory Note (the "Note") dated May 5, 2010. As consideration for receiving the second tranche under the Note in the amount of C$120,000, Zaruma is obligated to issue to Gravity 2,400,000 common share purchase warrants, each such warrant being exercisable to acquire one common share of Zaruma at C$0.10 per share for a period of one year, subject to adjustment in certain circumstances (each, a "Warrant"). Zaruma has not yet issued the Warrants associated with the advance of the second tranche of the loan, due to Zaruma's bei
View More : http://www.marketwire.com/mw/release.do?id=1282040&sourceType=3
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