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DynaResource, Inc. Closes $ 4 M USD Direct Private Placement of Series C Senior Convertible Preferred Stock and Provides Corporate Update
DynaResource, Inc. Closes $ 4 M USD Direct Private Placement of Series C Senior Convertible Preferred Stock and Provides Corporate Update.
About this update from Dynaresource, Inc.
[{"type":"text","content":"\n \n \n DynaResource, Inc. Closes $ 4 M USD Direct Private Placement of Series C Senior Convertible Preferred Stock and Provides Corporate Update\n \n \nDynaResource, Inc. Closes $ 4 M USD Direct Private Placement of Series C Senior Convertible Preferred Stock and Provides Corporate Update\n \n IRVING, TX--(Marketwired - Jul 9, 2015) -  DynaResource, Inc. (OTCQB: DYNR) (\"the Company\"), a minerals investment, management, and exploration company based in Irving, Texas, with a current focus on the San Jose de Gracia high grade gold project in northern Sinaloa State, Mexico (\"SJG\"), is pleased to announce that on June 30, 2015, the Company closed a financing agreement with Golden Post Rail, LLC, a Texas limited liability company (\"Golden Post\"). And, on July 2, 2015, the Company filed on Form 8-K, a disclosure of the transaction with Golden Post, and related events. A summary of the transaction with Golden Post, and related events is set forth below:\n 1. Pursuant to the May 6, 2015 Securities Purchase Agreement (the \"SPA\") among the Company, Golden Post Rail, LLC, a Texas limited liability company (\"Golden Post\") and Mr. Koy W. (\"K.D.\") Diepholz, Chairman-CEO of the Company, Golden Post acquired the following securities: \n \n \n a) 1,600,000 shares of Series C Senior Convertible Preferred Stock (the \"Series C Preferred\") at a purchase price of $2.50 per share ($4M USD), plus an additional 133,221 shares of Series C Preferred pursuant to anti-dilution provisions. The Series C Preferred is entitled to receive dividends at the per share rate of four percent (4%) per annum, ranks senior (in priority) to the Common Stock, the Series A Preferred Stock, and each other class or series of equity security of the Company. The Series C Preferred is convertible into Common Stock of the Company at the price of $2.50 per share, and is entitled to anti-dilution protection for (i) subsequent equity issuances by the Company and (ii) changes in the Company's ownership of DynaResource de México SA de CV (\"DynaMéxico\"). The Series C Preferred is also entitled to preemptive rights, and the holder has the right to designate one person to the Company's Board of Directors as a Class III director. \n \n \nb) A Common Stock Purchase Warrant (the \"Warrant\") for the ...