By Devika Patel
Knoxville, Tenn., May 21 - Scimitar Resources Ltd. said it completed a A$2.3 million issue of 12% convertible notes with Dempsey Resources Pty. Ltd.
The notes are convertible at A$0.15 and due on March 24, 2010.
Proceeds will be used for exploration and to finance a planned merger with Jackson Minerals Ltd.
Scimitar is a uranium exploration company based in West Perth, Australia.
| Issuer: | Scimitar Resources Ltd.
|
| Issue: | Convertible notes
|
| Amount: | A$2.3 million
|
| Maturity: | March 24, 2010
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | A$0.15
|
| Warrants: | No
|
| Investor: | Dempsey Resources Pty. Ltd.
|
| Pricing date: | May 21
|
| Stock symbol: | Australia: SIM
|
| Stock price: | A$0.345 at close May 21
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
