Company offers 10% one-year convertible debentures in offering
By Devika Patel
Knoxville, Tenn., March 19 - EMC Metals Corp. settled a $650,000 private placement of 10% convertible debentures on March 14, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The debentures, which mature in one year, are convertible into common stock at $0.05 per share, which is identical to the March 13 closing share price.
Based in Vancouver, B.C., EMC is a specialty metals and alloys company focusing on scandium, tungsten, molybdenum, vanadium and other specialty metals.
Issuer: | EMC Metals Corp.
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Issue: | Convertible debentures
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Amount: | $650,000
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Maturity: | One year
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Coupon: | 10%
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Conversion price: | $0.05
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Call: | Yes
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Warrants: | No
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Settlement date: | March 14
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Stock symbol: | OTCBB: EMMCF
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Stock price: | $0.05 at close March 13
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Market capitalization: | $8.71 million
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