SANTACRUZ SILVER MINING LTD. ("SCZ")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: July 22, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 3,750,000 transferable warrants to JMET, LLC. in consideration of new secured note to JMET in the amount of approximately US$4,889,933 (the 'Note'). The Note will bear interest at a rate of 14% per annum, payable quarterly in arrears commencing on September 30, 2016 with principal repayments of US$500,000 per quarter commencing September 30, 2017 (final payment due December 31, 2019). The Warrants have an exercise price of $0.55 per share and will expire on December 31, 2018; provided that, if the volume weighted average price of the common shares for any consecutive 20-day trading period equals or exceeds $0.88, the Company will have the right to deem the Warrants to be exercised.
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