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49 North Resources Inc. announces listing of Convertible Debentures on TSX Venture Exchange and Normal Course Issuer Bid for Covertible Debentures
TSX Venture Exchange Symbol FNR SASKATOON , April 2, 2014 /CNW/ - 49 North Resou...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\nTSX Venture Exchange Symbol FNR\n\n\nSASKATOON, April 2, 2014 /CNW/ - 49 North Resources Inc. (\"49 North\" or\n the \"Company\") (TSXV: FNR) is pleased to announce that effective at the\n opening on April 3, 2014 its 9% Convertible Unsecured Subordinated\n Debentures maturing September 23, 2016 (the \"2016 Debentures\") and its\n 9% Convertible Unsecured Subordinated Debentures maturing June 29, 2017\n (the \"2017 Debentures\", and together with the 2016 Debentures, the\n \"Debentures\") will be listed for trading on the TSX Venture Exchange. \n The 2016 Debentures were issued under a Trust Indenture dated September\n 23, 2010, as supplemented by a First Supplemental Trust Indenture made\n as of June 10, 2013 and a Second Supplemental Trust Indenture dated\n March 24, 2014, between the 49 North and Alliance Trust Company, as\n trustee, and will trade under symbol \"FNR.DB.A\".  The 2017 Debentures\n were issued under a Trust Indenture made as of June 29, 2011, as\n supplemented by a First Supplemental Trust Indenture dated July 11,\n 2011, a Second Supplemental Trust Indenture dated June 10, 2013 and a\n Third Supplemental Trust Indenture dated March 24, 2014, each between\n 49 North and Alliance Trust Company, as trustee, and will trade under\n the symbol \"FNR.DB.B\".  An aggregate of $5,079,277 principal amount of\n 2016 Debentures and $12,415,181 principal amount of 2017 Debentures\n will be listed.  The Debentures will be quoted based on $100 principal\n amounts with all trades being made in multiples of $1,000.\n\n\nThe 2016 Debentures mature on September 23, 2016, unless earlier\n redeemed, and bear interest at 9% per annum, which interest in paid in\n arrears in annual installments.  The 2016 Debentures are convertible at\n the option of the holder, exercisable at any time prior to 5:00 p.m.\n (Toronto time) of the business day immediately preceding the maturity\n date or the business day immediately preceding the date the 2016\n Debentures are redeemed, into common shares of 49 North at a conversion\n price of $1.50 per share. Conditional approval has been received from\n the TSX Venture Exchange for listing of the common shares issuable upon\n conversion of the 2016 Debentures.\n\n\nThe 2017 Debentures mature on June 29, 2017, unless earlier redeemed,\n and bear interest at 9% per annum,...