By Angela McDaniels
Tacoma, Wash., Sept. 2 - Nearctic Nickel Mines Inc. has placed a $1 million 12% convertible debenture with Pinetree Resource Partnership, according to a company news release.
The two-year debenture is convertible into company units at $0.40 each. Each unit includes one common share and one five-year warrant exercisable for one common share at a price of $0.75.
Interest is payable in units.
Nearctic is a mining company based in Toronto.
| Issuer: | Nearctic Nickel Mines Inc.
|
| Issue: | Debenture convertible into units of one share and one warrant
|
| Amount: | $1 million
|
| Maturity: | 2010
|
| Coupon: | 12%, payable in units
|
| Conversion price: | $0.40 per unit
|
| Warrants: | One per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Investor: | Pinetree Resource Partnership
|
| Settlement date: | Sept. 2
|
| Stock symbol: | Pink Sheets: NNMIF
|
| Stock price: | $0.15 on Sept. 2
|
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