PASSPORT POTASH INC. ("PPI")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: June 12, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 16, 2014:
Convertible Debenture US$500,000
Conversion Price: Convertible into (a) units of the Company consisting of one common share and one common share purchase warrant at US$0.12 of principal outstanding for a four year period or (b) 10% of the shares the Company holds in PPI East Block Holding Corp.
Maturity date: 48 months from the date of closing
Warrants Each warrant will have a term of four years from the date of issuance of the notes and entitle the holder to purchase one common share at an exercise price of $0.12 for the four year term.
Interest rate: 9.5% per annum
Number of Placees: 1 placee
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
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