SEARCH MINERALS INC. ("SMY")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: March 12, 2018
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced August 03, 2017 and September 7, 2017:
Convertible Debenture $500,000
Conversion Price: Convertible into units consisting of 8,333,333 common shares and 8,333,333 common share purchase warrants at a price of $0.06 per unit of principal outstanding.
Maturity date: One year from issuance. The term may be extended for an additional 6 months for $50,000 consideration payable in cash or units.
Warrants Each warrant will have a term of five years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.07.
Interest rate: 15% - payable in cash or units
Number of Placees: 1 Placee
Pursuant to Corporate Finance Policy 4.1, Section 1.9 (e), the Company issued news releases dated October 02, 2017 and October 27, 2017 announcing the closing of the private placement and setting out the expiry dates of the hold periods.
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