Business
Bell Copper Closes Macquarie Debt Restructuring and Repays Demand Debenture
Mar. 7, 2011 (Canada NewsWire Group) -- TSX-V Symbol: BCU VANCOUVER, March 7 /CNW Telbe...
About this update from Bell Copper Corporation
[{"type":"text","content":"\n\n\n Mar. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX-V Symbol: BCU\n\n\nVANCOUVER, March 7 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSX-V Symbol: BCU) is pleased to\n announce that it has closed the debt restructuring with Macquarie Bank\n Limited ("Macquarie") as outlined in the Company's February 7 news\n release, that it has now fully repaid the Bell Demand Debenture, and\n that all of its $0.10 warrants were exercised prior to the February 24,\n 2011 deadline, generating $1.5 million in net proceeds. With these\n actions, Bell has now substantially reduced and deferred its remaining\n repayment obligations to Macquarie. \n\n\nThe three previous demand debentures which were due and payable have\n been repaid and restructured as follows:\n\n\n1. The final principal and interest payment on the Bell Demand Debenture\n of approximately $830,000 was paid to Macquarie on February 28, 2011. \n This debenture is now paid in full, and the security over all of the\n Company's assets that had been granted for this debenture is being\n released.\n\n\n2. The Canadian dollar debenture (totalling approximately C $4.25\n million) that had been made to Bell's wholly owned subsidiary, Rogue\n River Resources Corp. ("Rogue River"), is being settled through a\n combination of a royalty grant and a planned conversion to equity.  C\n $2 million of this debenture has now been converted into a 2% NS...