The Conversation (0)
Iberian Minerals (TSXV:IML) is proposing a debt offering of secured non-convertible debentures of the company. The offering will raise gross proceeds of up to C$270,000.
As quoted in the press release:
Further to its news releases dated August 13, 2014 and August 15, 2014, the Company has amended the terms of debentures sold pursuant to a previous debt offering such that the maturity date of such debentures has been extended to mature on October 31, 2015. All other terms of the debentures remain the same. These original debentures will rank equally with those being sold under the Company’s second debt offering discussed above.
The Company can redeem the debentures at any time upon ten days prior written notice. The payment of the debentures shall be 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.
Click here to read the Iberian Minerals (TSXV:IML) press release