By Laura Lutz
Des Moines, June 5 - Mirage Energy Ltd. plans to conduct a C$1 million private placement of convertible debentures.
The 10% debentures will be convertible into units of one share and one warrant at C$0.50 per unit. They will remain convertible until June 19, 2009.
Each whole warrant will be exercisable at C$0.50 for two years.
The placement is non-brokered.
Proceeds will be used for exploration and development and for general corporate purposes.
Mirage is an oil and gas company based in Calgary, Alta.
| Issuer: | Mirage Energy Ltd.
|
| Issue: | Debentures convertible into units of one share and one warrant
|
| Amount: | C$1 million
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | C$0.50 per unit
|
| Warrants: | One per unit upon conversion
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | June 5
|
| Stock symbol: | TSX Venture: MGE
|
| Stock price: | C$0.50 at close June 5
|
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