By Devika Patel
Knoxville, Tenn., Dec. 9 - Thunderbird Energy Corp. said it has arranged a private placement of 12% two-year convertible debentures for C$2 million.
The debenture is convertible into common shares at C$0.15 per share during the first year and at C$0.25 per share during the second year.
Proceeds will be used to replace earlier debentures and for working capital.
Thunderbird is an oil and natural gas company based in Vancouver, B.C.
| Issuer: | Thunderbird Energy Corp.
|
| Issue: | Convertible debentures
|
| Amount: | C$2 million
|
| Maturity: | Two years
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.15 during the first year; C$0.25 during the second year
|
| Warrants: | No
|
| Pricing date: | Dec. 8
|
| Stock symbol: | TSX Venture: TBD
|
| Stock price: | C$0.095 at close Dec. 8
|
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