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BacTech Environmental Corporation(CNSX:BAC) announced its intended private placement for gross proceeds of up to $500,000.
As quoted in the press release:
Each unit consists of a $10,000 principal amount redeemable convertible unsecured debenture (each a “Debenture”) and 50,000 Series E common share purchase warrants (“Series E Warrants”). The Debentures will bear interest at 12% per annum, payable quarterly, with the principal due at maturity two years after closing. BacTech has the option to redeem the Debentures at par at any time which is at least 120 days after the date of issuance. At any time prior to maturity or redemption, the Debentures are convertible at the option of the holder into common shares at a conversion price of $0.20 per share.
Click here to read the BacTech Environmental Corporation (CNSX:BAC) press release
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