One-year 8% convertible debt issued to single investor Patrick Fagen
By Devika Patel
Knoxville, Tenn., Dec. 12 - Del Toro Silver Corp. settled an 8% convertible loan financing with Patrick Fagen for $40,000 on Dec. 11, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The one-year loan is convertible into common stock at a conversion price set at $0.10, which is a 25% premium to the Dec. 10 closing share price of $0.08.
Del Toro is a silver explorer based in Carson City, Nev.
Issuer: | Del Toro Silver Corp.
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Issue: | Convertible loan
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Amount: | $40,000
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Maturity: | One year
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Coupon: | 8%
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Conversion price: | $0.10
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Warrants: | No
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Investors: | Patrick Fagen
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Settlement date: | Dec. 11
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Stock symbol: | OTCBB: DTOR
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Stock price: | $0.08 at close Dec. 10
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Market capitalization: | $1.28 million
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