Investor BOCO Investments gets five-year warrants for 6,814,000 shares
By Devika Patel
Knoxville, Tenn., Sept. 7 - Fischer-Watt Gold Co. Inc. completed a $300,000 loan agreement with BOCO Investments, LLC on Aug. 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The loan will be due Oct. 30, 2012 and carries a 15% coupon.
BOCO also received warrants for 6,814,000 shares, which are exercisable at $0.02 for five years. The strike price is identical to the Aug. 30 closing share price.
Proceeds were used to pay maintenance fees to the Bureau of Land Management and to pay general operating expenses.
The Denver company explores for gold.
| Issuer: | Fischer-Watt Gold Co. Inc.
|
| Issue: | Loan
|
| Amount: | $300,000
|
| Maturity: | Oct. 30, 2012
|
| Coupon: | 15%
|
| Warrants: | For 6,814,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.02
|
| Investor: | BOCO Investments, LLC
|
| Settlement date: | Aug. 31
|
| Stock symbol: | OTCBB: FWGO
|
| Stock price: | $0.02 at close Aug. 30
|
| Market capitalization: | $2.78 million
|
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