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Kincora announces payment of convertible loan interest
Kincora announces payment of convertible loan interest Kincora announces payment o...
About this update from Kincora Copper Limited
[{"type":"text","content":"\n\n\n\nKincora announces payment of convertible loan interest\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKincora announces payment of convertible loan interest\nCanada NewsWire\nVANCOUVER, Nov. 10, 2015\n\n\n\nVANCOUVER, Nov. 10, 2015 /CNW/ - Kincora Copper Limited (TSX.V: KCC) (\"Kincora\" or the \"Company\").  The Company announces that, in accordance with the terms of a $2,500,000 convertible note issued on July 19, 2012 (the \"Note\"), Kincora proposes to settle the interest due on the Note for the period July 20, 2014 to July 19, 2015 in the amount of $217,500 through the issuance of 4,350,000 common shares of Kincora at a deemed price of $0.05 per share (the \"Debt Settlement\").\n\nThe Note bore interest at a rate of 8.7% per annum, calculated and paid annually by way of the issuance of common shares of Kincora.  \n\nAll securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance of the Shares, in accordance with applicable securities legislation.\n\nClosing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX-V.\n\nAbout Kincora \n\nKincora Copper Limited. is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia. For further information on the Company, please visit www.kincoracopper.com and refer to its corporate presentation http://kincoracopper.com/investors/corporate-presentation. Kincora has 309,774,451 issued and outstanding common shares.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nSOURCE Kincora Copper Limited\n\n\n\n\n\n\nSam Spring, President and Chief Executive Officer, [email protected], +61431 329 345, http://www.kincoracopper.comCopyright CNW Group 2015","length":3418,"tagNa...