Business
Ready Set Gold Announces C$2.5 Million Private Placement of Convertible Debentures
Toronto, Ontario--(Newsfile Corp. - June 18, 2021) - Ready Set Gold Corp. (CSE: RDY) (FSE: 0MZ) (OTC Pink: RDYFF) ("Ready Set Gold" or the "Company") is pleased
About this update from Newpath Resources Inc
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 18, 2021) - Ready Set Gold Corp. (CSE: RDY) (FSE: 0MZ) (OTC Pink: RDYFF) (\"Ready Set Gold\" or the \"Company\") is pleased to announce that it intends to conduct a non-brokered private placement with a group of arm's length investors (the \"Private Placement\") of up to 2,500 units of the Company (the \"Units\") at a price of $1,000 per Unit, for gross proceeds of up to $2,500,000. Each Unit will be comprised of: (i) a $1,000 principal amount three-year 7.5% senior unsecured convertible debenture (\"Debenture\"), and (ii) 3,334 common share purchase warrants of the Company (each whole warrant, a \"Warrant\"). The Company has binding subscriptions from investors for proceeds totaling $1,820,000, which the Company expects to close imminently in an initial tranche of the Private Placement, including a lead order in the amount of $1,250,000 from Concept Capital Management, an asset management company focused on evaluating and investing in Canadian resource companies. Debenture Conversion & Terms Each Debenture will be convertible at any time after the date of issue at the option of the holder into common shares in the capital of the Company (\"Common Shares\") at a price of $0.27 per Common Share (the \"Conversion Price\"), subject to adjustment. After 24 months following the date of issue, if the Common Shares trade at or above $0.90, based on the trailing 30-day volume-weighted average price of the Common Shares traded on the CSE, the Company will have the right, exercisable within 10 business days of the end of the trading period, to require the automatic conversion of the Debentures at the Conversion Price by giving the holder 10 business days' prior written notice. In connection with the Private Placement, the Company will accept a qualified and experienced nominee of the investors to sit on the board of directors of the Company, and the identity of the said nominee will be announced upon closing of the financing. Should there be an \"Change of Control\" (as such term will be defined in the form of Debenture), the holder of the Debenture will have the right to demand full repayment of the Debenture on 10 business days' prior written notice. Warrants Each Warrant will entitle the holder thereof to acquire one Common Share (a \"Warrant Share\") at a price of $0.47 per share for a per...