One-year 8% convertible debt issued to investor Patrick Fagen
By Devika Patel
Knoxville, Tenn., July 26 - Del Toro Silver Corp. settled an 8% convertible loan financing with Patrick Fagen for $60,000 on July 19, according to an 8-K filed Friday 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 66.67% premium to the July 18 closing share price of $0.06.
Del Toro is a silver explorer based in Vancouver, B.C.
| Issuer: | Del Toro Silver Corp.
|
| Issue: | Convertible loan
|
| Amount: | $60,000
|
| Maturity: | One year
|
| Coupon: | 8%
|
| Conversion price: | $0.10
|
| Warrants: | No
|
| Investors: | Patrick Fagen
|
| Settlement date: | July 19
|
| Stock symbol: | OTCBB: DTOR
|
| Stock price: | $0.06 at close July 18
|
| Market capitalization: | $1.34 million
|
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