One-year 8% convertible debt issued to single investor Patrick Fagen
By Devika Patel
Knoxville, Tenn., July 20 - Del Toro Silver Corp. settled an 8% convertible loan financing with Patrick Fagen for $50,000 on July 16, according to an 8-K filed Friday with the Securities and Exchange Commission.
The one-year loans are convertible into common stock at a conversion price set at $0.08, which is a 46.67% discount to the July 13 closing share price of $0.15.
Del Toro is a silver explorer based in Vancouver, B.C.
Issuer: | Del Toro Silver Corp.
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Issue: | Convertible loans
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Amount: | $50,000
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Maturity: | One year
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Coupon: | 8%
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Conversion price: | $0.08
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Warrants: | No
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Investor: | Patrick Fagen
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Settlement date: | July 16
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Stock symbol: | OTCBB: DTOR
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Stock price: | $0.15 at close July 13
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Market capitalization: | $1.9 million
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