Reclamation Consulting amends terms of October convertible note sale

By Sheri Kasprzak

New York, Dec. 15 - Reclamation Consulting and Applications, Inc. amended the terms of an October private placement in order to increase to $620,000 from $120,000 the additional principal investors may buy in 10% convertible notes.

For the right to convert all amounts under the original note, first issued Oct. 20, the investors had the right to buy another $120,000 in principal of the notes. That amount was increased to $620,000.

The company sold $2,079,067 in principal of the notes in October to Canvasback Co. Ltd.

The notes are convertible into a total of 83,162,680 common shares at $0.025 each.

Located in Lake Forest, Calif., Reclamation Consulting develops industrial lubricants and oils.

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