- CopAur Minerals Inc (CPAU) has granted a loan of up to US$840,000 to New Placer Dome Corp. (NGLD) to be used for the Bolo property
- The loan has a term of one year and will bear interest at an interest rate of 10 per cent per annum calculated and compounded monthly
- The loan is convertible into units of New Placer Dome at $0.08 per unit with the option of CopAur Minerals at any time before May 31, 2022
- The Bolo project is in Nevada, and is one of three projects of New Placer Dome
- CopAur Minerals Inc (CPAU) is down 3.64 per cent trading at $1.06 per share as of 1:41 p.m. EST
- New Placer Dome Corp. (NGLD) is down 5.26 per cent trading at $0.09 per share as of 1:42 p.m. EST
CopAur Minerals Inc (CPAU) has granted a loan of up to US$840,000 to New Placer Dome Corp. (NGLD) to be used for the Bolo property.
The loan has a term of one year and will bear interest at an interest rate of 10% per annum calculated and compounded monthly.
The loan is convertible into units of New Placer Dome at $0.08 per unit with the option of CopAur Minerals at any time before May 31, 2022.
Alternatively, at the option of CopAur Minerals by the maturity date of the loan.
Each unit consists of one common share of New Placer Dome and one common share purchase warrant.
Each warrant is exercisable into one common share of New Placer Dome at a price of $0.12 per share for a period of 36 months.
CopAur Minerals can accelerate repayment of the principal amount of the loan in the event of the occurrence of certain customary default events.
The convertible note is subject to a four-month and one-day restricted resale period expiring on April 11, 2022.
All securities issuable under the terms of the convertible debenture will similarly be subject to a four-month and one-day restricted resale period.
The Bolo project is in Nevada and is one of three projects of New Placer Dome.
CopAur Minerals is a Canadian-based copper-gold mining company whose primary asset is the Williams Gold-Copper property spans across 5,159 hectares of land in British Columbia.
CopAur Minerals Inc (CPAU) is down 3.64 per cent trading at $1.06 per share as of 1:41 p.m. EST.
New Placer Dome Corp. (NGLD) is down 5.26 per cent trading at $0.09 per share as of 1:42 p.m. EST.
