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Butte Energy Inc. announces share transfer, convertible loan and debt purchase and settlement
Butte Energy Inc. announces share transfer, convertible loan and debt purchase and settlem...
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\nButte Energy Inc. announces share transfer, convertible loan and debt purchase and settlement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 4, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\nTSXV ticker symbol: BEN.H\n\n\n\nCALGARY, Dec. 4, 2017 /CNW/ - Butte Energy Inc. (\"Butte\" or the \"Company\") (TSXV: BEN.H) is pleased to announce that it has entered into the following arm's length agreements:\n\n\na share purchase agreement (the \"Share Purchase Agreement\") with Victor Redekop (\"Redekop\"), Bill Baker (\"Baker\") and Stone's Throw Capital Corp. (\"Stone's Throw\") pursuant to which Redekop and Baker, as vendors, have agreed to sell 30,000,000 common shares of the Corporation (\"Common Shares\") to Stone's Throw for aggregate consideration of $2.00;\na convertible loan agreement (the \"Convertible Loan Agreement\") with Stone's Throw, pursuant to which the Corporation will borrow the principal amount of $300,000 from Stone's Throw, which will bear interest at 10% per annum and is repayable on the date that is 12 months from the date of issuance.  The principal amount and accrued interest will be convertible at the option of Stone's Throw into units of the Corporation (\"Units\") at a conversion price of $0.05 per Unit.  Each Unit will consist of one Common Share and one Common Share purchase warrant (a \"Warrant\").  Each Warrant (substantially in the form attached as Schedule B to the Convertible Loan Agreement, the \"Warrant Certificate\") will entitle the holder to acquire one Common Share at an exercise price of $0.05 for a period of 12 months from the date they are issued; and \na debt purchase and settlement agreement (the \"DPS Agreement\") with Redekop, Baker, Sand Hills Energy Inc. (\"Sand Hills\") and Stone's Throw pursuant to which: (i) Redekop, Baker and Sand Hills ha...