Canada Lithium Signs $21.1M Convertible Debenture Bought Deal Financing

Canada Lithium Corp (TSX:CLQ, OTCQX:CLGMF) announced that it has entered into an agreement with Dundee Securities Ltd to purchase on a bought deal private placement basis, 21,110 convertible debentures at a price of $1,000/debenture.

As quoted in the press release:

The Debentures will mature on June 30, 2018 (the “Maturity Date”) and pay a coupon of 11.0% per annum from the closing date (“Closing Date”), payable semi-annually in arrears on the last day of June and December of each year commencing on June 30, 2013. The first interest payment will be made on June 30, 2013 and will consist of interest accrued from and including the Closing Date to June 30, 2013.

Click here to read the full Canada Lithium Corp (TSX:CLQ, OTCQX:CLGMF) press release.