Business
CopperBank Arranges Convertible Debenture
VANCOUVER, BC / ACCESSWIRE / May 13, 2019 / CopperBank Resources Corp. ("CopperBank") (CSE: ...
About this update from Faraday Copper Corp
[{"type":"text","content":"CopperBank Arranges Convertible DebentureVANCOUVER, BC / ACCESSWIRE / May 13, 2019 / CopperBank Resources Corp. (\"CopperBank\") (CSE: CBK) is pleased to announce that the Company is planning to arrange a convertible debenture financing for gross proceeds of $1,000,000. Terms of the debenture contemplated would be for a two-year duration and would pay the lender 15% interest, calculated monthly, and payable in CopperBank common shares. The conversion price for the interest portion of the instrument is anticipated to be $0.05 per share while the conversion price for the principal is anticipated to be at $0.08 per share.CopperBank CEO, Gianni Kovacevic, comments. \"This financing provides a multi-year runway for CopperBank to satisfy payment obligations. Our owner-operator business model is extremely mindful of dilution, so we are happy to provide a plan that demonstrates alignment with the shareholders who have supported our efforts. Meanwhile, our team is working hard to assess accretive opportunities with established copper projects and royalties, located in favorable locations.\"On behalf of CopperBank Resources Corp.\"Gianni Kovacevic\"Chief Executive OfficerAddress: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2Tel: 604-889-0852E-mail: [email protected]: www.copperbankcorp.comCertain information in this release constitutes forward looking statements or information (\"forward-looking statements\") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as \"plans\", or \"believes\", or variations of such words and phrases or statements that certain actions, events or results \"may\", \"could\", \"would\", \"might\" or \"will be ...