ENERGOLD DRILLING CORP. ("EGD")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: June 26, 2017
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 14, 2017:
Convertible Debenture $20,000,000
Conversion Price Convertible into shares at $0.85 of principle per share until maturity
Maturity Date five years from issuance
Interest Rate US LIBOR plus 7.5% per annum with a US LIBOR floor of 2% per annum (increasing to US LIBOR plus 11% during the last two years of the term)
Warrants: 4,000,000 detachable share purchase warrants to purchase 4,000,000 shares
Warrant Exercise Price: $1.50 for a five year period
Number of Placees: 27 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P Amount
Brian and Derrell Bertram Trust Y $1,000,000
(Brian and Derrell Bertram)
Mark A. Corra Y $200,000
Frederick Davidson Y $200,000
James H. Coleman Y $500,000
Arrangement Fee: an aggregate of 3% of the amount of the convertible loan and 100,000 warrants (each exercisable into one common share at a price of $0.85 for a three year period) is payable to Extract Advisors LLC.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company has issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). 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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