Proceeds from deal used for production activities, equipment purchases
By Devika Patel
Knoxville, Tenn., Feb. 13 – Cyprium Mining Corp. said it plans a $500,000 private placement of debenture units on Thursday.
The company will sell 500 units of a $1,000 14% unsecured debenture and 400 common shares at $1,000 per unit. The debenture is due in 13 months.
Proceeds will be used for production activities at an Aldama, Mexico, plant, to purchase equipment and materials for production at the plant and for general working capital.
The Montreal company explores for copper, gold and silver.
| Issuer: | Cyprium Mining Corp.
|
| Issue: | Units of a $1,000 unsecured debenture and 400 common shares
|
| Amount: | $500,000
|
| Units: | 500
|
| Price: | $1,000.00
|
| Maturity: | 13 months
|
| Coupon: | 14%
|
| Warrants: | No
|
| Pricing date: | Feb. 12
|
| Stock symbol: | TSX Venture: CUG
|
| Stock price: | C$0.14 at close Feb. 11
|
| Market capitalization: | C$4.84 million
|
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