Deal includes warrants; offering proceeds used to pay maintenance fees
By Devika Patel
Knoxville, Tenn., Sept. 6 - Cyclone Uranium Corp. sold a $150,000 promissory note to Perry L. Miller on Aug. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 30% note matures on Dec. 30, 2013.
Miller also received warrants for 5 million shares, which are each exercisable at $0.02 for three years. The strike price is a 33.33% discount to the April 30 closing share price of $0.03.
Proceeds were used to pay maintenance fees to the Bureau of Land Management.
The uranium explorer is based in Denver.
| Issuer: | Cyclone Uranium Corp.
|
| Issue: | Promissory note
|
| Amount: | $150,000
|
| Maturity: | Dec. 30, 2013
|
| Coupon: | 30%
|
| Warrants: | For 5 million shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.02
|
| Investor: | Perry L. Miller
|
| Settlement date: | Aug. 30
|
| Stock symbol: | OTCBB: CYUR
|
| Stock price: | $0.03 at close Aug. 29
|
| Market capitalization: | $3.96 million
|
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