Robex seeks to extend, make other changes to convertibles due 2016

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – Robex Resources Inc. seeks to amend the terms of its convertible debentures due Nov. 21, 2016, according to a press release.

The debentures were issued to 15 subscribers on Nov. 21, 2013.

The proposed amendments aim to

• Extend the debentures’ maturity by two years;

• Allow the company, at any time before the convertibles’ maturity and without consent of the subscribers, to repay both the capital and interest then due on the debentures, without penalty, by notice given to the subscribers who will have the option to request repayment through the issuance of common shares of Robex at C$0.15 per share, or in cash; and

• Allow Robex to defer payment of interest until the amended maturity date, subject to annual interest of 10%, compounded annually.

To amend the convertibles, Robex must obtain approval of regulatory authorities including the TSX Venture Exchange. The amendment of the debentures’ maturity date requires the consent of each subscriber.

Montreal-based Robex is a gold exploration company.

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