Business
Avidian Gold Provides an Update on a Non-Brokered Financing
TORONTO, Ontario / TheNewswire / January 15, 2019 - Avidian Gold Corp. ("Avidian" or the "Company") (TSX-V:AVG) is pleased to provide an update on a previously
About this update from Avidian Gold Corp.
[{"type":"text","content":"TORONTO, Ontario / TheNewswire / January 15, 2019 - Avidian Gold Corp. (\"Avidian\" or the \"Company\") (TSX-V:AVG) is pleased to provide an update on a previously announced non-brokered private placement of units of the Company for gross proceeds of up to $1,000,000 (the \"Offering\") earlier announced in press releases dated October 22, 2018 and November 21, 2018. The Company announces an amendment to the terms of the Offering. The Offering will be conducted by way of a non-brokered private placement of up to 1,000 debenture units of the Company (\"Units\") each Unit consisting of a C$1,000 principal amount three (3) year unsecured interest-bearing convertible debenture (a \"Debenture\") and five thousand (5,000) common share purchase warrants of the Company (each a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company (a \"Common Share\") at a purchase price of C$0.76 per share for a period of 36 months from the the closing of the Offering, subject to the Company's option to accelerate the term of the Warrants in the event that the trading price of Common Shares on the TSX Venture Exchange equals or exceeds $1.00 for twenty consecutive trading days by providing a 30 day notice to warrant holders. The Debentures will be convertible into Common Shares at a price of $0.40 per Common Share (\"Conversion Price\") at an option of an investor at any time prior to maturity day of the Debenture. The Debenture will bear an annual interest calculated a rate of either 8% or 12% as follows: Debentures will bear an 8% annual interest for investors who elect at the time of subscription for Units to receive the accrued interest in semi-annual cash payments; the Debenture will bear a 12% annual interest rate for investors who elect to receive the accrued interest through conversion of the interest into Common Shares at the Conversion Price upon the maturity of the outstanding principal amount of the Debentures, in which case the accrued interest will be added to the outstanding principal amount of Debentures on a semi-annual basis. Management and insiders of the Company have indicated they will be participating in the Offering. About Avidian Gold Corp. Avidian Gold brings a disciplined and veteran team of project managers together with a regional scale advanced stage gold-copper exploration portfolio in...