Company sells 15% six-month promissory notes to TJC Trading via deal
By Devika Patel
Knoxville, Tenn., July 24 – Rimrock Gold Corp. settled a $200,000 private placement of 15% convertible promissory notes with TJC Trading, LLC on July 15, according to an 8-K filed Friday with the Securities and Exchange Commission.
The note matures in six months and is convertible into common shares at a price equal to 35% of the average of the lowest three trading prices of the stock during the 25 trading days preceding conversion.
The gold and lithium explorer is based in Las Vegas.
| Issuer: | Rimrock Gold Corp.
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| Issue: | Convertible promissory note
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| Amount: | $200,000
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| Maturity: | Six months
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| Coupon: | 15%
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| Conversion price: | 35% of the average of the lowest three trading prices of the stock during the 25 trading days preceding conversion
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| Warrants: | No
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| Investor: | TJC Trading, LLC
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| Settlement date: | July 15
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| Stock symbol: | OTCBB: RMRK
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| Market capitalization: | $312,300
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