Business
Eureka to issue bonus shares to shareholder
Eureka to issue bonus shares to shareholder.
About this update from Kore Mining Ltd.
[{"type":"text","content":"\n\n\n\nTSX-V: EUK\n\n\nVANCOUVER, Dec. 6 /CNW/ - Eureka Resources, Inc. (the \"Company\")\nannounced that it has ratified certain borrowings from a shareholder and a\ncompany controlled by a shareholder (collectively, the \"Lenders\"), totaling\n$368,140. The Company and the Lenders have agreed that the loan will bear\ninterest at a rate of 4% per annum and is payable on demand by the Lenders. As\nadditional consideration for the loan, the Company has agreed to issue 193,758\ncommon shares to the Lenders equal to 20% of the loan at a price of $0.38 per\ncommon share (the \"Bonus Shares\"), subject to regulatory approval. The Bonus\nShares will be subject to resale restrictions expiring four months from the\ndate of issuance.\n\n\nOn behalf of the Company:\n\n\n\"Signed\"\n\n\n--------\n\n\nJ.J. O'Neill\n\n\nPresident\n\n\n The TSX Venture Exchange has neither reviewed nor accepts\n responsibility for the adequacy or accuracy of this report.\n\n\n","length":1055,"tagName":"div"}]