Business News • MarketWire • Pacific Road Resources Funds Announce Exchange of Convertible Notes in First Bauxite Corporation |
Pacific Road Resources Funds Announce Exchange of Convertible Notes in First Bauxite Corporation |
|
|
Pacific Road Resources Funds Announce Exchange of Convertible Notes in First Bauxite Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2014) - The Pacific Road Resources Funds ("PRRF") announce that PRRF has exchanged the non-interest bearing convertible notes ("Notes") issued by First Bauxite Corporation (the "Company") in the aggregate principal amount of $8,000,000, which were due to mature on June 26, 2014 and July 23, 2014, for promissory notes having the full principal amount plus an amount for certain fees and expenses, and a maturity date of January 19, 2016 (the "Replacement Notes"). The Replacement Notes will bear interest at an annual rate of 10% (compounded monthly and payable on maturity). As a result of the exchange, PRRF will no longer have the right to convert the Notes into common shares of the Company.
View More : http://www.marketwired.com/mw/release.do?id=1925130&sourceType=3
|
|
|