Company sells 10% convertible notes to fund general corporate purposes
By Devika Patel
Knoxville, Tenn., July 31 - Loreto Resources Corp. settled a $70,000 tranche of a $100,000 private placement of 10% convertible notes on July 25, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The note matures on Jan. 24, 2014.
Proceeds will be used for working capital and general corporate purposes.
Loreto Resources is a gold explorer based in Sarasota, Fla.
| Issuer: | Loreto Resources Corp.
|
| Issue: | Convertible note
|
| Amount: | $100,000
|
| Maturity: | Jan. 24, 2014
|
| Coupon: | 10%
|
| Warrants: | No
|
| Settlement date: | July 25
|
| Stock symbol: | OTCBB: LRTC
|
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