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Cerro Grande Mining Corporation Announces Issuance of Convertible Unsecured Debentures and a Secured Non-Convertible Loan
Cerro Grande Mining Corporation Announces Issuance of Convertible Unsecured Debentures and a Secured Non-Convertible Loan.
About this update from Cerro Grande Mining Corp.
[{"type":"text","content":"\n\n\n\n\n\n\n\nCerro Grande Mining Corporation Announces Issuance of Convertible Unsecured Debentures and a Secured Non-Convertible Loan\n\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\n\n\n\n\n\n\n\n\n\nCerro Grande Mining Corporation Announces Issuance of Convertible Unsecured Debentures and a Secured Non-Convertible Loan\n\nPR Newswire\n\nTORONTO, July 30, 2013\n\n\n\n\n\n\n\n\nTORONTO, July 30, 2013 /PRNewswire/ - Cerro Grande Mining Corporation\n (the \"Company\" or \"CEG\") (TSX: CEG) (OTCQX: CEGMF) announced today that it has issued\n unsecured convertible debentures totalling US $1,010,211.40 (the \"Debentures\"). The issuance of the Debentures has been conditionally approved by\n the TSX.\n\n\n\n\nMario Hernandez, (\"Hernandez\") and David Thomson, (\"Thomson\") both directors and officers of the Company, through their respective\n companies Compañia Minera Chanar Blanco S.A. (\"Chanar Blanco\"), and Compania Minera Auromin Ltda (\"Auromin\") have each acquired one Debenture convertible into common shares of\n the Company (each, a \"Common Share\"). Each of Hernandez and Thomson acquired a Debenture in the aggregate\n principal amount of US$505,105.70 which is convertible into Common\n Shares at a rate of CDN$0.10 per Common Share (the \"Conversion Price\"), on the basis of an exchange rate of US$1.00 to CDN$1.00. On this\n basis, each of Chanar Blanco and Auromin may convert the Debentures on\n the basis of 1,000 Common Shares for each US$100 of outstanding\n principal up to an aggrega...