Iberian Minerals Ltd. (TSXV:IML) has amended the terms of its previously announced private placement offering of debentures. The debentures are now non-convertible. All other terms of the private placement remain the same.
As quoted in the press release:
The Company also announced the closing of the non-convertible secured debentures in the principal amount of $350,000, subject to final approval of the TSX Venture Exchange. The debentures mature on January 31, 2015 and bear interest at the rate of 15% per annum. The Company can redeem the debentures at any time upon ten days prior written notice. The payment of the debentures is secured by a security interest granted by the Company in respect of all present and after-acquired personal property of the Company, excluding the shares held of its foreign subsidiaries.
There Is No Guide to Critical Metals Investing That is More Concise, Clear and Authoritative.Download this FREE Special Report, Investing in Today’s Critical Metals – Context for Lynas News and Molycorp News.