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Scorpio Gold Corporation (CVE:SGN) reports that the company has closed the initial US$8,000,000 tranche of the aggregate US$12,000,000 senior secured note financing.
Scorpio Gold Corporation (TSXV:SGN) reports that the company has closed the initial US$8,000,000 tranche of the aggregate US$12,000,000 senior secured note financing.
The press release is quoted as saying:
In the First Tranche, the Company issued US$8,000,000 principal amount of senior secured notes (the “Notes”) along with an aggregate of 5,000,000 common share purchase warrants (the “Warrants”) to Waterton Global Value, L.P. The Notes bear interest at a rate of 11% per annum, payable monthly, and will mature on April 20, 2012.
Click here to access the entire press release