8% note due Sept. 30, 2014 was sold to Asher Enterprises in offering
By Devika Patel
Knoxville, Tenn., Feb. 14 - First Colombia Gold Corp. sold a $16,500 convertible promissory note to Asher Enterprises, Inc. on Jan. 11, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced on Dec. 24.
The 8% note is due Sept. 30, 2014 and may be converted to common stock at 45% of the market price. The company may prepay the note with a prepayment penalty ranging from 140 to 150.
The gold and silver exploration company is based in Copacabana, Antioquia, Colombia.
| Issuer: | First Colombia Gold Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $16,500
|
| Maturity: | Sept. 30, 2014
|
| Coupon: | 8%
|
| Conversion price: | 45% of the market price
|
| Call: | At 140 to 150
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Pricing date: | Dec. 24
|
| Settlement date: | Jan. 11
|
| Stock symbol: | OTCBB: FCGD
|
| Market capitalization: | $36,890
|
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