8% convertible debt due July 15, 2013 sold to Asher Enterprises in deal
By Devika Patel
Knoxville, Tenn., Oct. 25 - Del Toro Silver Corp. sold an 8% convertible note to Asher Enterprises, Inc. for $51,500 on Oct. 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The note matures on July 15, 2013 and is convertible into common stock at a rate equal to 58% of the market price on any conversion date. It may be prepaid at 120.
Del Toro is a silver explorer based in Carson City, Nev.
| Issuer: | Del Toro Silver Corp.
|
| Issue: | Convertible note
|
| Amount: | $51,500
|
| Maturity: | July 15, 2013
|
| Coupon: | 8%
|
| Conversion price: | 58% of market price
|
| Call: | At 120
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Settlement date: | Oct. 15
|
| Stock symbol: | OTCBB: DTOR
|
| Stock price: | $0.10 at close Oct. 12
|
| Market capitalization: | $1.28 million
|
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