SEARCH MINERALS INC. ("SMY")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: December 30, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 21, 2016:
Convertible Debenture $120,750
Conversion Price: Convertible into 1,725,000 units consisting of one common share and one common share purchase warrant at a conversion rate of $0.07 per unit.
Maturity date: One year from issuance
Warrants Each warrant will have a term of one year from the date of issuance and entitles the holder to purchase one common share at the price of $0.14 per share.
Interest rate: 10% per annum, payable quarterly in cash
Number of Placees: 1 placee
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period on December 29, 2016. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]
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