By Devika Patel
Knoxville, Tenn., Sept. 16 - North American Tungsten Corp. Ltd. said it will sell $3 million of 8% convertible debentures in a private placement.
Interest is payable quarterly and the one-year debenture is convertible into common shares at C$1.00 per share.
Proceeds will be used for exploration and development of the MacTung Project, CanTung Mine and general corporate purposes
Based in Vancouver, B.C., North American Tungsten is a mining company focused on tungsten and related mineral properties.
| Issuer: | North American Tungsten Corp. Ltd.
|
| Issue: | Convertible debentures
|
| Amount: | $3 million
|
| Maturity: | One year
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$1.00
|
| Warrants: | No
|
| Pricing date: | Sept. 16
|
| Stock symbol: | TSX Venture: NTC
|
| Stock price: | C$0.50 at close July 9
|
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